Twitter

Facebook

Youtube

RSS

Hindi News | Samay | UP/Uttarakhand | MP/Chhattisgarh | Bihar/Jharkhand | Rajasthan | Aalami Samay
  Rashtriya Sahara Roznama Sahara
India-UK set up joint fund for green energy
Last Updated : 04 Apr 2017 05:39:21 PM IST
file photo
file photo
 

India and Britain on Tuesday agreed to jointly set up a fund with corpus contributions of 120 million pounds each to finance Indian infrastructure projects, it was announcement.

"In a major step taken today (Tuesday) on the National Investment and Infrastructure Fund (NIIF), a sub fund with UK and NIIF participation was agreed upon," Finance Minister Arun Jaitley told reporters.

It came after the ninth India-UK Economic and Financial Dialogue here with the British delegation led by Chancellor of the Exchequer Philip Hammond.



"The Green Growth Equity Fund will have contributions of 120 million pounds from each participant to finance energy needs in India," he added.

The joint statement at the end of the talks said the "joint fund aims to raise 500 million pounds by also leveraging private sector investment from the city of London to finance Indian infrastructure projects."

India set up the NIIF in December 2015 as an investment vehicle for funding commercially viable greenfield, brownfield and stalled projects.

While the government will invest Rs 20,000 crore in NIIF, the remaining would come from private domestic and foreign investors who can invest in the umbrella fund or smaller sector or project-specific funds within it.

Last year, the government announced that it is in the process of setting up two sub-funds under NIIF -- one in clean energy, which will primarily focus on renewable energy, and another with focus on highway projects.



IANS
For Latest Updates Please-

Join us on

Follow us on


What binds the two most talked about nations - India and Pakistan together? What makes the

Bollywood actress Sonakshi Sinha is enjoying her marital bliss. On Monday, the actress too

LG Electronics Inc said on Wednesday that it will introduce new C with its artificial inte

 

Samay Live
Samay Live
Samay Live
Samay Live
Samay Live
Samay Live
Samay Live
Samay Live

172.31.16.186