The Union government has appointed Mr. Sujoy Bose as the Chief Executive Officer of National Investment and Infrastructure Fund (NIIF) Ltd. His appointed for the post has been made by a search-cum-selection committee which was constituted under the chairmanship of economic affairs secretary Shaktikanta Das. At present, he is the Director and Global Co-Head, Infrastructure and Natural Resources at Washington-based International Finance Corporation (IFC). IFC is the private sector lending arm of the World Bank.
The NIIF has been established with the aim to attract investment from both domestic and international sources for infrastructure development in commercially viable projects. It has been incorporated as a company under the Companies Act, 2013, duly authorized to act as investment manager of NIIF. The establishment activities of the NIIF are underway and steps are being taken to operationalize the initiatives with different investors including RUSNANO, Abu Dhabi Investment Authority(ADIA) and Qatar Investment Authority(QIA). The total corpus of the fund is Rs. 40000 Crore in which government will invest Rs.20,000 crores into it from the budget while the remaining Rs. 20,000 crores are expected to come from private investors.
So let’s discuss some questions related to this post:
1. Name the person who has been appointed as the CEO of NIIF?
2. What is the total corpus of NIIF and also expand the term NIIF?
Courtesy: Business Standard