Facts for Prelims (FFP)
Source: PIB
Context: The National Investment and Infrastructure Fund (NIIF) has partnered with the Japan Bank for International Cooperation (JBIC) to establish a $600 million India-Japan Fund (IJF), with the Government of India (GoI) and JBIC as primary investors.
- This collaboration reflects a significant joint effort between India and Japan in the field of climate and environmental sustainability.
- The IJF is NIIF’s first bilateral fund, with the GoI contributing 49% of the total fund, while JBIC contributes the remaining 51%.
The primary focus of the India-Japan Fund is on investments in environmental sustainability and low-carbon emission strategies. Its objective is to become a preferred partner for encouraging increased Japanese investments in India.
About National Investment and Infrastructure Fund (NIIF) (formed in 2015; Office: New Delhi)
It is a government-backed Category-II Alternate Investment Fund, created to offer long-term financial support to India’s infrastructure sector. The Indian government holds a 49% stake in NIIF, while the remaining shares are owned by both foreign and domestic investors. Due to the substantial government ownership, NIIF is often regarded as India’s quasi-sovereign wealth fund.
