NaBFID has both financial and developmental objectives. The developmental objective shall be to co-ordinate with the Central and State Governments, regulators, financial institutions, institutional investors, and such other relevant stakeholders, in India or outside India, to facilitate building and improving the relevant institutions to support the development of long-term non-recourse infrastructure financing in India including the domestic bonds and derivatives markets.
Under these objectives, among others, NaBFID have been engaging with various multilateral and like institutions and exploring partnerships, to facilitate building and improving the relevant institutions to support the development of long-term non-recourse infrastructure financing in India, including the domestic bonds and derivatives markets.
Partnership with International Finance Corporation (IFC), the World Bank Group
To develop a robust pipeline of investment-ready PPP projects in infrastructure across India, NaBFID and IFC signed Memorandum of Understanding (MoU) on June 2, 2023. The collaboration aims to support the nation's target of achieving a $5-trillion economy while fostering low-carbon and climate-resilient growth.
Under the MoU, NaBFID and IFC will collaborate to jointly identify and develop PPP projects. In addition, comprehensive transaction advisory services will be available for those initiatives. The projects will be selected and implemented with an eye on sustainability as well as climate adaptation and mitigation, supporting India’s climate commitments.
The initial projects are expected to mobilize around $2 billion in private investment over the next few years in national priority sectors, including renewable energy, energy storage, urban infrastructure, and others. While providing models for replication and scaling up, projects developed through this partnership will be critical to mobilizing private funding to meet India’s massive infrastructure investment needs—around $1.4 trillion, including $290 billion through the private sector, as estimated by the National Infrastructure Pipeline (NIP).