The NIIF of India has signed a pact worth $1 billion with Abu Dhabi Investment Authority (ADIA). What does NIIF stands for?
[B] National Investment and Intelligence Fund
[C] National Investment and Infra Fund
[D] National Investment and Inter-cooperative Fund
The National Investment and Infrastructure Fund (NIIF) of India has signed an investment agreement worth $1 billion with a wholly owned unit of the Abu Dhabi Investment Authority (ADIA). As part of the partnership agreement, ADIA will become the first institutional investor in NIIF’s Master Fund and a shareholder in NIIF’s investment management company. The agreement marks the culmination of an extensive process of collaboration with ADIA to develop an investment structure that is attractive to international investors while remaining closely aligned with the NIIF’s objectives.The Indian government has set up NIIF in 2015 with the aim to attract investments from both domestic and international sources for infrastructure development in commercially viable projects.