NIIFL signs pact with JBIC to boost Japanese investments in India
1 min read 10 Nov 2022, 02:25 PM ISTThe Indian government and JBIC will invest in a bilateral India-Japan fund, which will make equity investments in environmental preservation and low carbon emission strategies
PremiumNew Delhi: National Investment and Infrastructure Fund Limited (NIIFL) on Thursday announced the signing of a Memorandum of Understanding (MoU) with Japan Bank for International Cooperation (JBIC) to promote and enhance Japanese investments into India.
“The MoU outlines a partnership framework between NIIFL and JBIC which is considering the establishment of a bilateral India-Japan Fund (IJF). JBIC and the Government of India will invest in the India-Japan Fund, which will make equity investments in environmental preservation and low carbon emission strategies," said NIIFL in a press release.
The fund will also enhance cooperation between the two countries by investing in strategic partnerships between Japanese and Indian companies and promoting business collaboration across multiple sectors in India.
“In addition, JBIC will consider providing debt financing under their Global action for Reconciling Economic growth and Environmental preservation (GREEN) initiative to investee companies of funds managed by NIIFL," NIIFL added.
NIIFL is an active investor in sustainable and climate friendly technologies and solutions through its investments in Ayana Renewable Power, IntelliSmart Infrastructure, Ather Energy and the Green Growth Equity Fund. The India-Japan Fund will further contribute to NIIFL having a more significant impact in this area.
“We are delighted to partner with JBIC for this initiative. The climate sector and the energy transition in India will offer significant opportunities for investment and the India-Japan Fund, which is expected to be operational early next year, will participate in these opportunities and promote collaboration between Indian and Japanese companies. Through this partnership we aim to support the economic and environmental cooperation between India and Japan, which should translate to increased investment by Japanese companies and investors into India," said Sujoy Bose, Managing Director & Chief Executive Officer, NIIFL.
