Cabinet nod to India, UAE agreement on infrastructure fund

New Delhi, March 23 (IANS) The union cabinet on Wednesday approved the MoU between India and the UAE signed on February 11, 2016, to mobilise long-term investment into the National Investment and Infrastructure Fund (NIIF), an official statement said here.

The objective of NIIF is to maximise economic impact mainly through infrastructure development in commercially viable projects, both greenfield and brownfield, including stalled projects. NIIF would solicit equity participation from strategic anchor partners.

The cabinet approved the creation of the National Investment and Infrastructure Fund (NIIF) in July 2015.

The joint statement with the United Arab Emirates (UAE) during the visit of Prime Minister Narendra Modi to the country on August 16-17, 2015, mentions the establishment of UAE-India Infrastructure Investment Fund, with the aim of reaching a target of $75 billion to support investment in India’s plans for rapid expansion of next generation infrastructure, especially in railways, ports, roads, airports and industrial corridors and parks.

“The MoU will help establish a transparent and high-level framework and collaboration platform under which both countries intend to explore ways to facilitate and expand the participation of UAE’s investment institutions in appropriate infrastructure projects and institutions in India including NIIF, in a manner consistent with the established investment criteria and standards in a mutually agreed manner,” the statement said.

Leave a Reply

Please enter your comment!

The opinions, views, and thoughts expressed by the readers and those providing comments are theirs alone and do not reflect the opinions of or any employee thereof. is not responsible for the accuracy of any of the information supplied by the readers. Responsibility for the content of comments belongs to the commenter alone.  

We request the readers to refrain from posting defamatory, inflammatory comments and not indulge in personal attacks. However, it is obligatory on the part of to provide the IP address and other details of senders of such comments to the concerned authorities upon their request.

Hence we request all our readers to help us to delete comments that do not follow these guidelines by informing us at Lets work together to keep the comments clean and worthful, thereby make a difference in the community.

Please enter your name here