India, the UK to sign formal pact on Infrastructure financing

India, the UK to sign formal pact on Infrastructure financing

• The UK and India will sign an inter-government agreement for a mutually beneficial working relationship in infrastructure financing.
• The agreement covers the other issues around fundraising for infrastructure.
• The agreement is expected to be signed on the sidelines of G20 Finance Ministers meeting slated to be held in Shanghai this month end.
• The decision came after a roundtable meeting organised by India Infrastructure Finance Company Ltd (IIFCL).
• The UK Government was already in talks with Indian Government for investing in a sub-fund of the National Investment and Infrastructure Fund (NIIF), which is a flagship infrastructure investment initiative.
• Earlier, India and UK have agreed to explore ways to encourage increased investment in infrastructure with the aim of developing an India-UK partnership fund under the NIIF during the Economic and Finance Dialogue.