India, UK to set up 240 mn pound fund for green energy


India and the UK decided to set up a 240 million pound fund to finance clean energy projects, as per the statement of Finance Minister Arun Jaitley.

The Green Growth Equity Fund will be a sub-fund of NIIF. India had in 2015 set up the Rs 40,000 crore National Infrastructure and Investment Fund (NIIF) to finance greenfield as well as brownfield projects. The fund will focus initial investments in India’s rapidly growing energy and renewables market.

    Takeaways from above News-
    • India and UK to set up 240 mn pound fund for green energy
    • Full form of NIIF is National Infrastructure and Investment Fund
    • Capital of the United Kingdom (UK) is London and its Prime Minister is Theresa May
    • Currency of UK is Pound

    If you have any other takeaways, do share with us in the comment section
    Source- Business Line

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