US announces $54-mn investment in Indian infra sector

The US International Development Finance Corporation (DFC) has announced that it will invest $54 million in India to support the development of critical infrastructure projects in the country in the wake of the COVID-19 pandemic. India is one of the fastest-growing countries in the previous three decades, but it suffers from a significant infrastructure deficit, holding back further growth for the country especially in the wake of COVID-19. The Corporation will invest in equity for the National Investment and Infrastructure Fund (NIIF) in India to support the development of critical infrastructure projects. NIIF will work to mobilize capital to support economic growth and address critical development challenges in the country. DFC's investment will support the growth and development of a key partner in the Indo-Pacific and allow DFC to facilitate investment in strategic infrastructure projects across India. CEO, DFC Adam Boehler, informed that DFC brings its commitment to high standards in all of its projects, and it is excited to establish this partnership with NIIF. NIIF CEO Sujoy Bose, said, "We are pleased to announce that NIIF has completed fundraising for its Master Fund and are delighted that DFC is investing in this final round. Their investment will strengthen infrastructure investment across India. We are excited at all that DFC brings to the table, including its high standards such as the Blue Dot Network and commitment to best practices with respect to transparency and management of environmental and social risks."