What is the issue ?
- Asian Infrastructure Investment Bank (AIIB) has approved $100 million investment in the National Infrastructure and Investment Fund (NIIF).
About Asian Infrastructure Investment Bank (AIIB) :
- Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank which started operations in 2016.
- The organisation is headquartered at Beijing (China).
- AIIB at present has 86 members
- All powers of the Bank are vested in our Board of Governors, which is the highest decision-making body under our Articles of Agreement.
- AIIB aims to create a better tomorrow for billions of people by investing in sustainable infrastructure in Asia and beyond
- India is the second largest shareholder in AIIB after China and is also the largest recipient of funds from the multilateral agency.
About National Infrastructure and Investment Fund (NIIF) :
- NIIF Ltd. is a fund manager that seeks to create long-term value for domestic and international investors seeking investment in energy, transportation, housing, water, waste management and other infrastructure-related sectors in India.
- The company is jointly-owned by the Government of India and investors from India and abroad.
- While NIIF’s government partnership ensures close engagement with policy-makers and central and state government agencies, its commercial investors ensure a principles led and professional approach to all investments.
- Fund raising through suitable instruments including off-shore credit enhanced bonds, and attracting anchor investors to participate as partners in NIIF;
- Servicing of the investors of NIIF.
- Considering and approving candidate companies/institutions/ projects (including state entities) for investments and periodic monitoring of investments.
- Investing in the corpus created by Asset Management Companies (AMCs) for investing in private equity.
- Preparing a shelf of infrastructure projects and providing advisory services.