NEW DELHI, Oct 4: The National Investment and Infrastructure Fund (NIIF) has entered into a collaboration with the Japan Bank for International Cooperation (JBIC) to launch a $600 million India-Japan Fund with JBIC and Government of India (GoI) as anchor investors.
“India-Japan Fund will focus on investing in environmental sustainability and low carbon emission strategies besides further enhancing Japanese investments into India,” said Finance Ministry in a statement on Wednesday.
The announcement marks NIIF’s first bilateral fund, with the GoI contributing 49% of the target corpus and the remaining 51% contributed by JBIC. The Fund will be managed by NIIF Limited (NIIFL) and JBIC IG (a subsidiary of JBIC), and will support NIIFL in promoting Japanese investments in India.
“The setting up of India Japan Fund represents a key milestone in the strategic and economic partnership between the Government of Japan and Government of India,” the official press release said. (UNI)
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