Fund will be managed by NIIF Limited...
On Wednesday for climate and environment projects, India's National Investment and Infrastructure Fund (NIIF) and Japan Bank for International Cooperation (JBIC) together launched a $600 million fund.
The Indian government will contribute 49% to the target corpus for the India-Japan fund, which is also NIIF’s first bilateral fund, while the remaining 51% will be contributed by JBIC, the finance ministry said.
"India-Japan Fund will focus on investing in environmental sustainability and low carbon emission strategies and aims to play the role of being a partner of choice to further enhance Japanese investments into India," the ministry said.
The Indian government will contribute 49% of the target corpus for the India-Japan fund, which is also NIIF’s first bilateral fund, while the remaining 51% of the funds will be contributed by JBIC.
The India-Japan fund will be managed by NIIF Limited. JBIC IG, a subsidiary of JBIC, will support NIIFL in promoting Japanese investments in India, the statement added.
In 2015 NIIF a sovereign wealth fund is founded, which was to provide an investment platform for international and Indian investors.
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