IFC to fund IBBI for new insolvency reform implementation in India

This project focuses on four key areas including building the capacity of insolvency professionals in the country and of IBBI's own officers

IFC, a member of the World Bank Group, will support the Insolvency and Bankruptcy Board of India (IBBI) in strengthening the implementation of India's new insolvency and bankruptcy framework, the Insolvency and Bankruptcy Code (IBC), 2016. 

The funding focuses on four key areas including capacity Building, assisting the IBBI in the development of a comprehensive National Insolvency Professionals Programme among others.

The World Bank's investment arm said the project includes $6,40,613 (around Rs 43.4 million) which is aimed at supporting the Insolvency and Bankruptcy Board of India (IBBI) in strengthening the implementation of the Insolvency and Bankruptcy Code (IBC), 2016.