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- NIIF stands for National Infrastructure and Investment Fund
- It is a fund created by the Government of India for enhancing infrastructure financing in the country.
- Established in 2015.
- It is registered as a category II alternative investment fund with the Securities and Exchange Board of India.
- A sort of sovereign fund, for development of infrastructure projects, including the stalled ones.
- It is India’s first sovereign wealth fund
- It aims to attract investments from both domestic and international sources for infrastructure development in commercially viable projects both Greenfield and Brownfield, including stalled projects.
- It has proposed corpus of Rs. 40,000 crores (around $6 Billion).
- Government’s contribution to NIIF is 49% of total commitment at any given point of time.
- The remaining 51% will be raised from domestic and global investors, including international pension funds, sovereign wealth funds, multilateral/bilateral investors.
- Its Governing Council is chaired by Finance Minister and has already been set up to act as an advisory council to the NIIF.
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