The Union Cabinet on Wednesday approved an equity infusion of Rs.6,000 crore in the NIIF Debt Platform sponsored by the National Investment and Infrastructure Fund. The approval was announced by the Information and Broadcasting Minister Prakash Javadekar after the Cabinet meeting.

To support the funding of the National Infrastructure Pipeline of Rs 111 lakh crore, Finance Minister Nirmala Sitharaman in her Budget announcement this year had said that about Rs 22,000 crore has already been given. Notably, this would be towards equity support to infrastructure finance companies such as India Infrastructure Finance Company Ltd (IIFCL) and a subsidiary of NIIF, the minister had said.

The NIIF Strategic Opportunities Fund has set up a debt platform comprising an NBFC Infra Debt Fund and NBFC Infra Finance Company. The platform has a loan book of Rs 8,000 crore and a deal pipeline of Rs 10,000 crore NIIF AIFL and IFL  will be raising Rs 95,000 crore debt from the market, including project bonds. By 2025, will provide infrastructure project financing of Rs 1,10,000 crore.

NIIF has already invested nearly Rs 2,000 crore in the equity of the platform, and the govt will be investing Rs 6,000 crore as equity, with the rest being raised from private investors. Actual investments made by three NIIF funds in downstream funds, platforms and operating companies is Rs 18,676 crore.

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