The Japan Bank for International Cooperation (JBIC) and the National Investment and Infrastructure Fund (NIIF) have teamed up to launch the $600 million India-Japan Fund (IJF), with the JBIC and the Government of India (GoI) serving as anchor investors.
This cooperative effort highlights a crucial aspect of cooperation between the two nations in the priority subject of climate and environment.
The GoI contributed 49% of the target corpus, while JBIC contributed the remaining 51%, making this the first bilateral fund announced by NIIF. NIIF Limited (NIIFL) will manage the Fund, while JBIC IG (a JBIC subsidiary) will assist NIIFL in promoting Japanese investments in India.
India Japan Fund seeks to play the role of being a “partner of choice” to further promote Japanese investments in India. It will concentrate on investing in environmental sustainability and low carbon emission initiatives.
A significant turning point in the strategic and economic collaboration between the governments of Japan and India was the establishment of the India Japan Fund.
Stay Update with FELA NEWS|
Source: PIB
