The United States International Development Finance Corporation (DFC) has announced to invest $54 million in India to support the development of critical infrastructure projects in the country in the wake of the COVID-19 pandemic. The DFC will invest this $54 million in equity for the National Investment and Infrastructure Fund (NIIF) in India.
NIIF will use this capital to support economic growth and address critical development challenges in the country. This financing is part of NIIF’s final round of fund-raising for the fund.
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About Development Finance Corporation:
DFC is the development finance institution of the United States federal government, primarily responsible for providing and facilitating the financing of private development projects in lower- and middle-income countries.
Important takeaways for all competitive exams:
- National Investment and Infrastructure Fund Headquarters: Mumbai, India.
- National Investment and Infrastructure Fund Founded: February 2015.
- National Investment and Infrastructure Fund MD and CEO: Sujoy Bose.