IFC to lend $50 mln to Indian truck maker TELCO

Newswire

NEW DELHI, June 24 (Reuters) - The International Finance Corp, the World Bank's lending arm, said on Tuesday it had agreed to lend $50 million (2.33 billion rupees) to India's top truck maker Tata Engineering to fund its ongoing investments. IFC said in a statement the loan wold also support TELCO's new product development initiatives. Tata Engineering and Locomotive Co Ltd (TELCO), part of India's powerful Tata group, is also the country's largest bus maker and the third largest ...

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