National Investment and Infrastructure Fund (NIIF) launches $600 million India-Japan Fund (IJF) with Government of India and Japan Bank for International Cooperation (JBIC) as anchor investors

Source: The post is based on the article “National Investment and Infrastructure Fund (NIIF) launches $600 million India-Japan Fund (IJF) with Government of India and Japan Bank for International Cooperation (JBIC) as anchor investors” published in “PIB” on 5th October 2023

What is the News?

The National Investment and Infrastructure Fund(NIIF) has entered into a collaboration with the Japan Bank for International Cooperation(JBIC) to launch a $600 million India-Japan Fund (IJF).

What is India-Japan Fund (IJF)?

Launched by: National Investment and Infrastructure Fund (NIIF) in collaboration with the Japan Bank for International Cooperation(JBIC)

This fund is NIIF’s first bi-lateral fund.

Purpose: The Fund 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.

Contribution: Government of India (GoI) will contribute 49% of the target corpus and the remaining 51% will be contributed by JBIC.

Managed by: NIIF Limited (NIIFL) and JBIC IG (a subsidiary of JBIC) 

Significance: This fund signals a key dimension of collaboration between the two countries in an area that is a shared priority viz. climate and environment.