NIIFL to invest $100 million from New Development Bank into the NIIF Fund of Funds
Xian Zhu, VP and COO of NDB noted that the investment will provide India’s private sector with additional funds during the time of crisis
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The National Investment and Infrastructure Fund (NIIFL) on February 11 announced a commitment of $100 million from the New Development Bank (NDB) into the NIIF Fund of Funds (FoF) taking the FoF s secured funding commitments to $800 million.
With this, the NDB joins the Government of India (GoI), Asian Infrastructure Investment Bank (AIIB) and Asian Development Bank (ADB) as an investor in the FoF. It also marks the bank s first equity investment in India and its first investment ever in a FoF.
Uttarakhand Tragedy: US Condoles Deaths Of Flood Victims, Wishes For Speedy Recovery Of Injured
About 26 bodies have been recovered and 171 people still missing as multiple agencies worked at rescuing over 30 workers feared trapped in an underground tunnel PTI photo Outlook Web Bureau 2021-02-09T08:39:19+05:30 Uttarakhand Tragedy: US Condoles Deaths Of Flood Victims, Wishes For Speedy Recovery Of Injured outlookindia.com 2021-02-09T08:41:33+05:30
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The US on Tuesday condoled the loss of innocent lives after a glacier burst in India s Uttarakhand state, causing massive destruction of life and property. While hundreds are feared to be dead, many have been rescued due to the swift rescue operations of disaster relief teams. The US extended hearty wishes for a speedy recovery of those injured.
Pacific island nations turn to Beijing-backed AIIB as COVID-19 sinks economies Toggle share menu
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The Asian Infrastructure Investment Bank headquarters in Beijing, China. (File photo: REUTERS/Tingshu Wang)
25 Jan 2021 09:42AM Share this content
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SYDNEY: Pacific island nations are turning to China-led agencies to plug funding gaps in their pandemic-ravaged budgets after exhausting financing options from traditional Western partners, stoking fears the region is becoming more dependent on Beijing.
The Cook Islands, a tiny country of around 20,000 people in the South Pacific, turned to the Beijing-backed Asian Infrastructure Investment Bank (AIIB) late last year after loans from the US and Japanese-led Asian Development Bank (ADB) and grant from close ally New Zealand fell short.
Xi Jinping on Asian Infrastructure Investment Bank chinadaily.com.cn - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from chinadaily.com.cn Daily Mail and Mail on Sunday newspapers.
The Asian Infrastructure Investment Bank is marking its fifth anniversary. Facts speak louder than words, and by all accounts, the Beijing-based multilateral development bank has been doing quite well.