September 12, 2023
1 min read

India, UK announce Infrastructure Financing Bridge

India’s remarkable stature as an investment powerhouse in technology, fintech, and green transition underscores its pivotal role in driving global economic growth, it added…reports Asian Lite News

India and UK on Monday announced the launch of the Infrastructure Financing Bridge during 12th Economic and Financial Dialogue (EFD), a collaborative initiative which signifies the continuing commitment of both nations to work in close cooperation towards unlocking substantial infrastructure investment opportunities in India.

A joint statement issued by Finance Minister Nirmala Sitharaman and UK’s Chancellor of the Exchequer Jeremy Hunt after the EFD, said that the UK has a lot to offer in the area of financial and project management.

India’s remarkable stature as an investment powerhouse in technology, fintech, and green transition underscores its pivotal role in driving global economic growth, it added.

“Against this backdrop, it brings us great pleasure to announce the formal launch of the UK-India Infrastructure Financing Bridge (UKIIFB), 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,” the statement said.

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.

This landmark collaboration between Niti Aayog and the City of London is distinctly committed to sustainable infrastructure development, prioritising environmentally friendly projects that are aligned with the core principles of the Sustainable Development Goals. By synergising the collective strengths of both nations, the UKIIFB is poised to create a transformative impact, fortifying the foundation for economic growth, job creation, and shared prosperity in both the United Kingdom and India, it said.

ALSO READ-UK Chancellor, Indian FM Signal Imminent FTA Agreement

Previous Story

UAE, Philippines Explore Trade, Investment Ties

Next Story

UK to restrict paracetamol sale to curb suicides

Latest from -Top News

IAEA sounds nuclear alarm in Iran

UN nuclear watchdog urges restraint, calls for diplomacy to prevent crisis. The head of the International Atomic Energy Agency (IAEA), Rafael Grossi, has issued a stark warning about the potential nuclear fallout

Trump says it’s hard to tell Israel to stop

President downplays European diplomacy as Israeli jets strike over 35 Iranian missile sites US President Donald Trump has said it would be “difficult” to ask Israel to stop its ongoing airstrikes on

Modi calls Yoga a journey from ‘me’ to ‘we’

PM Modi showered praise on the Andhra Pradesh government for hosting this year’s national celebrations, commending Chief Minister N. Chandrababu Naidu and Deputy Chief Minister Pawan Kalyan for their leadership. Prime Minister

UK unites for Yoga Day

Celebrations held across iconic landmarks and campuses under theme ‘One Earth, One Health’ The Indian diaspora and local communities across the United Kingdom gathered in large numbers on Friday to mark the

Kenya’s Odinga Slams Adani Deal U-Turn

Before the cancellation of the deal, Odinga was among the leaders who defended the Adani Group….reports Asian Lite News Kenya’s former Prime Minister Raila Odinga on Friday expressed disappointment over the cancellation
Go toTop

Don't Miss

Indian Embassy Kicks Off Yoga Day with DC Session

Outlining the theme of International Yoga Day 2024, “Yoga for

India defends its decision on UNHRC vote

India and 13 other countries abstained from voting on a