The National Investment and Infrastructure Fund (NIIF) has joined forces with the Japan Bank for International Cooperation (JBIC) to establish a $600 million fund known as the India-Japan Fund (IJF). In this collaborative effort, JBIC and the Government of India (GoI) will serve as anchor investors.
This joint venture highlights a significant aspect of cooperation between the two nations in an area of mutual importance, namely, climate and the environment. This announcement marks the inception of NIIF's inaugural bilateral fund, with the GoI contributing 49% of the target capital and the remaining 51% being provided by JBIC. NIIF Limited (NIIFL) will oversee the management of the fund, and JBIC IG (a subsidiary of JBIC) will assist NIIFL in promoting Japanese investments in India.
The India-Japan Fund will primarily focus on investing in initiatives related to environmental sustainability and strategies geared towards reducing carbon emissions. Its objective is to act as a preferred partner to further enhance Japanese investments in India.
The establishment of the India-Japan Fund signifies a significant milestone in the strategic and economic partnership between the Governments of Japan and India.
