The Japan Bank for International Cooperation #JBIC signed an agreement?for equity participation in the India-Japan Fund. The target size of the Fund is INR49 billion, with the Government of India and JBIC committed to investing INR24 billion and INR25 billion, respectively. ?? The Fund was established by the National Investment and Infrastructure Fund (NIIF), India’s collaborative investment platform for both Indian and international investors, and it is anchored by the Government of India. The Fund will invest in India’s environmental preservation sector, including in renewable energy, electric vehicles, waste management, and water management projects. Additionally, the Fund, through collaboration between NIIFL and JBIC IG, a joint venture between JBIC and Industrial Growth Platform, Inc., will support Indian companies and projects that collaborate with Japanese companies with the aim of enhancing the cooperative relationship between Indian and Japanese companies across all sectors. Japanese companies are facing the disruption of supply chains attributable, in part, to the precarious global situation, and India, whose economic growth has been tremendous with its vast market in recent years, is drawing attention as a destination for the relocation of production bases and new investments. JBIC’s commitment is also expected to contribute toward the maintenance and improvement of the international competitiveness of Japanese companies through the Fund’s support for Japanese companies expanding their businesses in India. ?? In November 2022, JBIC and NIIFL signed a memorandum of understanding (MoU) that aimed to promote environmental preservation, low carbon emission strategies, and growth of the Indian economy, as well as enhance the cooperative relationship between Indian and Japanese companies. JBIC’s equity participation in the Fund is based on this MoU. ?? As Japan's policy-based financial institution, JBIC will continue to support global environmental preservation efforts and the maintenance and improvement of the international competitiveness of Japanese industry by drawing on its various financial facilities and programs for structuring projects and by performing its risk-assuming function. ?? Subscribe to our weekly LinkedIn newsletter, the "Japan FinTech Observer", here:?https://lnkd.in/gNjUuSxG
