Agreement with the National Investment and Infrastructure Fund comes amid reports about an alarming fall in new project investments
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Agreement with the National Investment and Infrastructure Fund comes amid reports about an alarming fall in new project investments
India’s largest commercial bank, State Bank of India (SBI) and the country’s sovereign infrastructure fund, National Investment and Infrastructure Fund (NIIF) have announced a partnership to provide capital to infrastructure projects, amid reports about an alarming fall in new investments in projects in the country.
SBI and NIIF on Monday inked a memorandum of understanding (MoU) on this new initiative, which envisages providing equity investments, project funding, bond financing, renewable energy support and take-out finance for operating assets.
“The objective of this initiative is to aid in filling the gap at a time when the availability of equity and debt financing for infrastructure has moderated,” SBI said in a statement.
