New Delhi: The National Investment and Infrastructure Fund (NIIF) has partnered with the Japan Bank for International Cooperation (JBIC) to establish a $600 million India-Japan Fund (IJF), with the JBIC and Government of India (GoI) serving as primary investors.
This joint initiative signifies a crucial aspect of collaboration between the two nations in a sector that is a shared priority, namely climate and environment.
The announcement marks NIIF’s first bi-lateral 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) will support NIIFL in promoting Japanese investments in India.
The India-Japan Fund will primarily focus on investing in environmental sustainability and low carbon emission strategies, with the aim of becoming a preferred partner to further strengthen Japanese investments in India.
The establishment of the India Japan Fund represents a significant achievement in the strategic and economic partnership between the Governments of Japan and India.
