You are here: Home » Economy & Policy » News
Business Standard

US body announces $54 mn investment in India to support infra projects

An American financial corporation on Tuesday announced that it will invest USD 54 million in India to support the development of critical infrastructure projects in the country

Infra Projects | United States | India

Press Trust of India  |  Washington 

construction, realty, workers, infra, jobs, migrants, labour, wage, real estate, concrete, cement, buildings, high rise

An American financial corporation on Tuesday announced that it will invest USD 54 million in to support the development of critical infrastructure projects in the country in the wake of the COVID-19 pandemic.

is one of the fastest growing countries in the previous three decades, but it suffers from a significant infrastructure deficit, holding back further growth for the country especially in the wake of COVID-19, US International Development Finance Corporation (DFC) said.

It said it will invest USD 54 million in equity for the National Investment and Infrastructure Fund (NIIF) in to support the development of critical infrastructure projects. The financing is part of NIIF's final round of fund-raising for the fund.

NIIF will work to mobilise capital to support economic growth and address critical development challenges in the country, according to a statement.

"DFC's investment will support the growth and development of a key partner in the Indo-Pacific and allow DFC to facilitate investment in strategic infrastructure projects throughout India, said DFC CEO Adam Boehler.

DFC brings its commitment to high standards in all of our projects, and we are excited to establish this partnership with NIIF. We are pleased to announce that NIIF has completed fund raising for its Master Fund, said NIIF CEO Sujoy Bose.

We are delighted that DFC is investing in this final round. Their investment will strengthen infrastructure investment across India. We are excited at all that DFC brings to the table, including its high standards such as the Blue Dot Network and commitment to best practices with respect to transparency and management of environmental and social risks, he said.

DFC said its investment will help NIIF invest in infrastructure projects that are important for the long-term sustainable growth of the Indian economy, supporting development and the US foreign policy.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, December 22 2020. 23:58 IST