India and Japan have partnered to boost climate finance to promote low-carbon emission projects and environmental sustainability

The National Investment and Infrastructure Fund (NIIF) has launched a $600 million India-Japan Fund (IJF) to promote low-carbon emission projects and environmental sustainability.

The Government of India and the Japan Bank for International Cooperation (JBIC) are the anchor investors for the project.

India Japan Fund will focus on investing in environmental sustainability and low-carbon emission strategies. It aims to play the role of being a partner of choice to enhance Japanese investments in India.

According to a statement, the announcement marks NIIF’s first bi-lateral fund. The GoI will contribute 49% of the target corpus and the remaining 51% will be contributed by JBIC. NIIF Limited (NIIFL) will manage the funds and JBIC IG, a subsidiary of JBIC will promote Japanese investments in India.