Early Warning System

Countries

India

Geographic location where the impacts of the investment may be experienced.

Financial Institutions

New Development Bank (NDB)

International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.

Project Status

Approved

Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.

Bank Risk Rating

Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."

Voting Date

Mar 25, 2020

Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.

Borrower

National Investment and Infrastructure Fund Limited

A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.

Sectors

Finance
Infrastructure

The service or industry focus of the investment. A project can have several sectors.

Investment Type(s)

Loan

The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.

Investment Amount (USD)

$ 100.00 million

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.

Project Cost (USD)

$ 1,000.00 million

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.

Primary Source

Original disclosure @ NDB website

Updated in EWS May 13, 2020

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the bank's website, "FoF-I will investment in approx. 10 portfolio funds as the anchor or significant investor in private equity funds managed by experienced fund managers. Investment focus is green infrastructure, social infrastructure (healthcare, education), mid-income and affordable housing, infrastructure services, agribusiness, consumer business, financial services, technology and industrials (with emphasis on job creation and supporting small and medium enterprises). FoF-I will work with fund managers with strong track record, experience of investing in India, and sound investment strategy, with distinct advantage over competing funds in deal sourcing, robust processes and high level of adherence to environmental, social and governance aspects."

Financial Intermediary

A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.

National Investment and Infrastructure Fund Limited (Financial Intermediary)

Contact Information

This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

NDB

Project Team Leader:
Garvit Sah
sah.garvit@ndb.int
Jingjing Han
han.jingjing@ndb.int

NIIF

Anand Unnikrishnan
Anand.Unnikrishnan@niifindia.in