India's The National Investment and Infrastructure Fund has signed an investment agreement worth $1 billion with a wholly owned unit of the Abu Dhabi Investment Authority (ADIA).
- ADIA will become the first institutional investor in NIIF’s Master Fund and a shareholder in National Investment and Infrastructure Ltd
- The corpus of the fund is proposed to be around Rs40,000 crore
- NIIF is planning to invest in areas such as energy, transportation, housing, water, waste management and other infrastructure-related sectors in India.
NIIF
- National Investment and Infrastructure Fund was set up in 2015.
- It is an investment vehicle for funding commercially viable greenfield, brownfield and stalled projects in the infrastructure sector.
- It plays an important role in facilitating the flow of foreign capital into India’s infrastructure sector.
ADIA
- The Abu Dhabi Investment Authority is a sovereign wealth fund owned by Emirate of Abu Dhabi
- It manages the Emirate’s excess oil reserves
- It was founded in 1976
- Sheikh Khalifa bin Zayed Al Nahyan is the Chairman of ADIA
