03.08.2015 - NIIF to fund core projects
India's own sovereign wealth fund like entity - National Investment and Infrastructure Fund, modelled on Singapore's investment vehicle Temasek, will be operational by the end of this year and provide equity finance to core sector projects to boost economic activity, Minister of State for Finance Jayant Sinha said. NIIF will look at both greenfield as well as brownfield projects and "will fill the gap of equity financing," he added, while further maintaining that it would also look at supporting stalled projects. The fund will have its own governing council and the management will be paid market salaries to attract the best talent. Money from the fund would be routed to provide equity support to those NBFCs and financial institutions, which are engaged in infrastructure financing across sectors, and corpus to JAMCs and equity/debt to commercially viable infrastructure and other projects..............................................Full Article: Source
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