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India's infra fund to receive $1 bn from Abu Dhabi Investment Authority

The corpus of NIIF, created by the Indian government to boost infrastructure financing, is proposed to be about $6 billion

Reuters  |  Mumbai 

Union Minister for Finance, Arun Jaitley chairing the first meeting of the Governing Council of National Investment & Infrastructure Fund Trustee Ltd. (NIFTL), in New Delhi on Tuesday. MoS for Finance,  Jayant Sinha and other dignitaries are also
Union Minister for Finance, Arun Jaitley chairing the first meeting of the Governing Council of National Investment & Infrastructure Fund Trustee Ltd. (NIFTL), in New Delhi.

India's National Investment and Infrastructure Fund (NIIF) on Monday said it signed a $1 billion investment deal with a unit of Investment Authority (ADIA) - one of the largest sovereign wealth funds in the world.

NIIF, a quasi-sovereign wealth fund, said will become the first institutional investor in its master fund.

The corpus of NIIF, created by the Indian government to boost infrastructure financing, is proposed to be about $6 billion, with a 49 percent investment from the government.

 

 

First Published: Tue, October 17 2017. 07:53 IST
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