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NIIFL Signs MoU with JBIC

Published on November 11, 2022
Current Context: The National Investment and Infrastructure Fund Limited (NIIFL) signed a Memorandum of Understanding (MoU) with Japan Bank for International Cooperation (JBIC).
NIIFL Signs MoU with JBIC
  • 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
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