India’s National Investment and Infrastructure Fund (NIIF) to start funding activities
India's National Investment and Infrastructure Fund (NIIF) is about to start funding activities. The government launched the fund last December to provide financing for greenfield, brownfield and stalled projects.
Several sovereign wealth funds have provided commitments to the NIIF, which will start operations soon.
The fund, which has a target size of INR400 billion (US$6 billion), was envisioned as a mother fund with several sectorial feeder funds.
According to sources, Finance Minister Arun Jaitley, said:
“We are awaiting a lot of commitments from various sovereign funds to become either contributors to the main fund itself or to the different sector of infrastructure sector itself which will go into this particular fund (umbrella fund NIIF).”
“I think our model is in the process of evolving and therefore with a large amount of infrastructure needs, which can really be the key to Indian investment and economic activities over the next several years, which can keep growth rate at a high level. This model has to be perfected."
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