US International Development Finance Corporation to invest in NIIF
The U.S. International Development Finance Corporation (DFC) has announced to invest in the National Investment and Infrastructure Fund (NIIF) in India. As per the announcement, DFC will invest $54 million in equity for NIIF for supporting the development of critical infrastructure projects.
- This investment of DFC is a part of the final round of fundraising for the Master fund of NIIF.
- With this investment, the fundraising for the master fund has been completed.
- The investment by DFC will allow it to ease investment in strategic infrastructure projects throughout India and provide support to the growth and development of a key partner in the Indo-Pacific.
- NIIF will be working to mobilize this capital for addressing critical development challenges in the country and supporting economic growth.
US International Development Finance Corporation
It is a developmental financing institution of the United States. Its main aim is to provide finance for private development projects in middle and low-income countries. It was formed in the year 2019 and it is headquartered in Washington DC.
National Investment and Infrastructure Fund (NIIF)
NIIF is the first infrastructure specific fund of India that was set up in the year 2015 by the Indian government. The aim of the creation of NIIF was to increase the economic impact primarily through infrastructure investment in commercially feasible projects. It is headquartered in Mumbai, Maharashtra.
Recently, the government has approved an investment of Rs. 6000 crore in NIIF as a part of Atma Nirbar Bharat.