- The primary objective of the agreement between the NIIFL and JBIC is to promote and boost Japanese investments in India.
- The NIIFL, in its press release, said that both entities are considering the establishment of a bilateral India-Japan Fund (IJF).
- The IJF will assist in providing equity investments in environmental preservation and low-carbon emission strategies.
- The fund will also boost cooperation between India and Japan by promoting business collaboration across multiple sectors in India.
- The NIIFL is India’s first sovereign wealth fund that was established in 2015 with its headquarters in Mumbai. The current Chairperson of the company is TV Mohandas Pai.
- JBIC is a financial institution and export credit agency that was established in 1999 with its headquarters in Tokyo, Japan. The current Executive Managing Director of the bank is Hashiyama Shigeto.
Question:
Q.1 The National Investment and Infrastructure Fund Limited (NIIFL) signed a Memorandum of Understanding (MoU) with which international bank to boost investments in India?a. Bank of America
b. HSBC
c. Japan Bank for International Cooperation
d. CitiGroup
