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India and the UK announce joint UK-India Fund, namely a Green Growth Equity Fund

Capital Market 

Aims to leverage private sector investment from the City of to invest in Green Infrastructure Projects in India

and the announced the launch of an Early Market Engagement for the joint UK-Fund, namely a Green Growth which aims to leverage private sector investment from the City of to invest in green infrastructure projects in

Both governments reaffirmed their commitment to anchor invest up to 120 million each (i.e. totally 240 million) in the joint fund which will be established under the NIIF framework. To begin with, the fund aims to raise around 500 million, with the potential to unlock much more in future. This was announced at the bilateral meeting between Shri Arun Jaitley, the Hon'ble Minister of Finance, Defence and Corporate Affairs, Government of India, and Rt Hon Philip Hammond MP, Chancellor of the Exchequer, Government of in Delhi yesterday. The two Finance Ministers announced that initial investments will focus on India's rapidly growing green energy and renewable market and that a Fund Manager is expected to be selected in the next few months. Progress will be accelerated through early market engagement via the publication of a blueprint, with the aim to identify additional and complementary sectors for fund investments.

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First Published: Wed, April 05 2017. 13:09 IST