Published on: October 10, 2023
Why in news? India –Japan Fund was unveiled for a $600 million.
- National Investment and Infrastructure Fund (NIIF), and the Japan Bank for International Cooperation (JBIC) launched the fund
- Aim: To invest in sustainability project areas such as renewable energy, e-mobility and waste management.
- Finance : JBIC will contribute 51% of that figure, and India the rest, the Indian government
- Management : NIIF Limited (NIIFL), will be responsible for managing the India-Japan Fund.
About National Investment and Infrastructure Fund
- It is India’s first infrastructure specific investment fund or a sovereign wealth fund by the Government of India
- Objective : Maximize economic impact mainly through infrastructure investment in commercially viable projects, both greenfield and brownfield.
- Type: Alternative Investment Fund
- Chaired : Finance Minister of India and has members from corporate bodies, investments and policy sectors.
- Master Fund: Primarily investing in operating assets in the core infrastructure sectors such as roads, ports, airports, power
- Fund of Funds: invest in funds managed by fund managers who have good track records in infrastructure and associated sectors in India
- Strategic Opportunities Fund: To invest largely in equity and equity-linked instruments.
- First investment agreement: Abu Dhabi Investment Authority (ADIA).