National Investment and Infrastructure Fund

• The National Investment and Infrastructure Fund has entered into a collaboration with Japan Bank for International Cooperation (JBIC) to unveil a $600 million India-Japan Fund.
• The fund will have JBIC and Government of India as anchor investors.
• It will focus on investing in environmental sustainability and low carbon emission strategies and aims to play the role of being a ‘partner of choice’ to further enhance Japanese investments into India.
• The announcement marks NIIF’s first bilateral fund, with 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.

ABOUT NIIF

• The ₹40,000-crore NIIF was set up in December 2015 as an institution for enhancing infrastructure financing by investing in greenfield (new), brownfield (existing) and stalled projects.
• The fund was set up as Category II Alternative Investment Fund (AIF).
• NIIF manages three funds with distinct strategies – Master Fund, Fund of Funds and Strategic Opportunities Fund.