October 17, 2023
India’s National Investment and Infrastructure Fund (NIIF) and the Japan Bank for International Cooperation (JBIC) have jointly unveiled a $600-million fund aimed at investing in sustainability projects. Of this total, JBIC will provide 51%, with India funding the remainder, according to a government statement. The India-Japan Fund will prioritize investments in sustainable initiatives related to renewable energy, e-mobility, and waste management, as detailed by NIIF, India’s first government-backed fund, established in 2015.
Moreover, the fund intends to foster collaboration between Indian and Japanese firms to address challenges like disrupted supply chains and a volatile global environment. Hayashi Nobumitsu, governor of JBIC, noted that Japanese companies are increasingly considering India as a destination for relocating production bases and making investments.
Source: Reuters
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