NaBFID Signs MoU with NDB to Strengthen Infrastructure Financing in India

Current Context: The National Bank for Financing Infrastructure and Development (NaBFID) signed an MoU with the New Development Bank (NDB) on April 11, 2024, in Mumbai, to boost infrastructure financing in India.

• The agreement aims to facilitate joint funding, risk-sharing, and knowledge exchange for sustainable projects in sectors like energy, transport, and urban development.
• By leveraging NDB’s multilateral funding and NaBFID’s domestic expertise, the partnership seeks to accelerate India’s infrastructure growth while supporting green initiatives and reducing financing gaps.
• This aligns with key government programs like PM Gati Shakti and the National Infrastructure Pipeline.

Question:

Q.1 What is the primary objective of the MoU signed between National Bank for Financing Infrastructure and Development (NaBFID and New Development Bank (NDB?
a) To launch a new bank for rural development
b) To regulate inflation
c) To privatize government infrastructure projects
d) To boost infrastructure financing in India

Answer: d) The MoU focuses on enhancing funding, risk-sharing, and collaboration for infrastructure projects in key sectors.