India and UK Launch Infrastructure Financing Bridge: Finance Minister Nirmala Sitharaman announced India and the UK have launched an infrastructure financing bridge to plan and implement major infrastructure projects.
The two countries have also agreed to conduct investment negotiations in parallel with the goods negotiations to conclude their free trade agreement (FTA) talks. The Indian government has also confirmed with the UK government its plans to consider allowing Indian companies to list on exchanges overseas.
Daily Current Affairs Quiz: September 2023
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| What is infrastructure financing? Generally, in most countries around the world, the government issues a list of industries that are to be given infrastructure status. The financing of projects or companies involved in these sectors is called infrastructure financing. |
The UK-India Infrastructure Financing Bridge (UKIIFB), is a collaborative initiative led jointly by Niti Aayog and the City of London. The primary objective of this collaboration is aimed at unlocking infrastructure investment and leveraging the City of London’s expertise in structuring and phasing major infrastructure projects.
This partnership seeks to secure long-term investment for vital infrastructure sectors in India. UKIIFB Stakeholders will seek to jointly build a diverse investment and financing system that is long-term, stable and sustainable with manageable risks, it added. The collaboration is committed to sustainable/infrastructure development, prioritising environmentally friendly projects that are aligned with the core principles of the Sustainable Development Goal
