India: National Investment and Infrastructure Fund (AIIB-000030)

Countries
  • India
Where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Infrastructure Investment Bank (AIIB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Sectors
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 200.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 2,100.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ AIIB website

Updated in EWS Mar 2, 2018

Disclosed by Bank May 23, 2017


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Project Description

According to AIIB documents:

"The objective of the Fund is to mobilize more private sector capital into infrastructure sectors, and increase infrastructure investment in India. These investments will include operating companies and new ventures. The platform could also consider investments into other commercially viable investments within the broader strategy of the Fund...

Sector specific platform companies will be the primary investment vehicles of the Fund. For each sector of interest, the Fund will create a platform company in partnership with a limited number of financial investors. Operating expertise will be sought either through the inclusion of an operating partner or through a management team backed by NIIF and other partners...

The Fund will exclusively invest in India and intends to operate mostly through scalable platform companies that will target infrastructure assets primarily in the following sectors: roads, ports, airports, power (generation, transmission, distribution), urban infrastructure, and logistics..."

Investment Description
  • Asian Infrastructure Investment Bank (AIIB)

The target fund size is $2,100 USD million. The estimated AIIB investment is $200 USD million.

Contact Information

Asian Infrastructure Investment Bank (AIIB):
Mr. Dong-Ik Lee
Project Team Leader
Phone: +86 10 8358 0125
Email: dongik.lee@aiib.org

ACCOUNTABILITY MECHANISM OF AIIB

In addition, the AIIB has a Bank Oversight Mechanism. According to AIIB's policies, "people who believe they have been or are likely to be adversely affected by a failure of the Bank to implement the ESP may also submit complaints to the Bank's oversight mechanism in accordance with the policies and procedures to be established by the Bank for such mechanism." However, at the time of writing, it is unclear what the exact scope and function of this Oversight Mechanism will be.