NIIF-QIA pact to help study infra funding options: FinMin

New Delhi, June 9 () The agreement between

NIIF

and QIA will enable the

Qatar

sovereign wealth fund to study investment opportunities in the Indian infrastructure sector, the

Finance Ministry

said today.

The National

Investment and Infrastructure Fund (NIIF) had entered into a memorandum of understanding (MoU) with the

Qatar Investment Authority

(QIA) on June 5 during the visit of Prime Minister Narendra Modi to

Doha

. "The objective of the MoU is to facilitate QIA to study investment opportunities in the infrastructure sector in India and develop a framework for exchange of information with regard to such investment opportunities in order to enable both sides to decide on joint investments," a ministry statement said. The MoU will remain in effect for 12 months during which both NIIF and QIA will discuss and agree on terms, principles and criteria for such investments. "NIIF shall share with QIA a pipeline of investment opportunities available in the infrastructure sector in India," it added. Set up in December 2015, the Rs 40,000-crore NIIF will act as an investment vehicle for funding commercially viable greenfield, brownfield and stalled projects. The government is in the process of appointing a CEO for NIIF, in which it holds 49 per cent, while the rest will be held by private investors. The

NIIF Governing Council

, under chairmanship of

Finance

Minister

Arun Jairtley

, met yesterday and reviewed the progress of India's maiden sovereign wealth fund and discussed investment proposals and project pipeline. The sovereign wealth fund of Qatar, QIA, is a long-term investor and invests across all geographical areas, sectors and asset classes. The majority of the investments are outside Qatar. The MoU was signed by QIA CEO

Abdullah Bin Mohamed Al Thani

and Ministry of External Afairs Secretary (Economic Relations)

Amar Sinha

. JD ARD