Current Context: Asian Development Bank and National Investment and Infrastructure Fund signed an agreement for ADB to invest in NIIF funds of funds (FOF) with an aim to support India’s private equity sector industry.
b. RBI
c. NIIF
d. National Council of Applied Economic Research (NCAER)
- ADB will be investing $100 million in the NIIF’s FOF which will ensure that actual money invested will be a few times more than USD 100 million.
- The motive behind the investment is to contribute to greater availability of long term growth financing for private sector companies, job creation, social infrastructure development, and economic growth.
- After this agreement, the total size of NIIF’s funds of funds has now raised to USD 700 million.
- Funds of funds were created in 2018 with an aim to invest in a variety of sectors and strategies through the third-party managed funds.
Static Part:
- Asian Development Bank (ADB):
- Headquarters– Mandaluyong, Philippines
- President– Masatsugu Asakawa
- National Investment and Infrastructure Fund (NIIF):
- Headquarters– Mumbai, Maharashtra
- Managing Director & Chief Executive Officer– Sujoy Bose
Question:
Q.1 An agreement of $100 million was signed between ADB and whom with an aim to support India’s Private equity industry?
a. SEBIb. RBI
c. NIIF
d. National Council of Applied Economic Research (NCAER)
