NIIF and JBIC unveils $600 million India-Japan fund

The National Investment and Infrastructure Fund (NIIF) and Japan Bank for International Cooperation (JBIC) have collaborated to unveil a $600 million India-Japan fund to promote collaboration and investment between Japan and India in the field of climate and environment. The JBIC and Indian government are the anchor investors in this fund. The announcement represents NIIF’s inaugural bilateral fund, with the government of India contributing 49 per cent of the desired corpus, while JBIC contributes the remaining 51 per cent. NIIF Limited will oversee the fund’s management, and JBIC IG, a subsidiary of JBIC, will assist NIIFL in facilitating Japanese investments in India.