India, UK announce joint fund for green infra projects

New Delhi, Apr 5: Aiming to leverage private sector investment in Green Infrastructure Projects, India and UK today announced joint fund of 120 million pound totaling to 240 million pound under National Information and Intelligence Framework (NIIF).
India and the UK announced the launch of an Early Market Engagement for the joint UK-India Fund, namely a Green Growth Equity Fund which aims to leverage private sector investment from the City of London to invest in green infrastructure projects in India, the Finance Ministry said in a statement.
To begin with, the fund will aim to raise around 500 million pound with the potential to unlock much more in future.
This was announced at the bilateral meeting between Arun Jaitley, Minister of Finance, Defence and Corporate Affairs and Rt Hon Philip Hammond MP, Chancellor of the Exchequer, Government of UK 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.