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NIIF and Qatar Investment Authority inks MoU to boost infrastructure investments

The National Investment and Infrastructure Fund (NIIF) Ltd. on 5 June 2016 signed a MoU with the Qatar Investment Authority (QIA) to facilitate investment in Indian infrastructure sector.
•    The Memorandum of Understanding was signed in Doha during the Prime Minister Narendra Modi’s visit to Qatar.
•    Its objective is to facilitate QIA to study investment opportunities in the infrastructure sector in India.
•    The QIA will develop a framework for exchange of information with regard to such investments opportunities, in order to enable both sides to decide on joint investments.
•    The MoU will remain in effect for 12 months during which period, both parties will discuss and agree on the terms, principles, criteria for such investments.
•    The NIIF shall share with QIA a pipeline of investment opportunities available in the infrastructure sector in India
•    It is the sovereign wealth fund of the State of Qatar.
•    They are long-term investors and access investment opportunities across all geographical areas, sectors and asset classes.
•    The majority of their investments are outside Qatar with assets spanning a wide range of sectors and spread across asset classes.
•    The fund deploys a wide range of investment strategies and invests through a carefully selected network of top-tier fund managers.
•    It was approved by the Union Cabinet in July 2015 to fund new and rejuvenate stressed projects so that stalled investment cycle is revived in the country.
•    It was established as a Category II Alternate Investment Funds (AIF) as per the regulations of the Securities and Exchange Board of India (SEBI).
•    It has an initial corpus of 20000 crore rupees which can be leveraged by infrastructure companies including Indian Rail Finance Corporation (IRFC) and National Housing Bank (NHB).
•    Similar to the agreement with the QIA, the NIIF signed a MoU with the United Arab Emirates (UAE) authorities in February 2016 to mobilize investments into the Indian infrastructure sector.

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