Question: Green Growth Equity Fund, which is a joint- UK-India fund, aims to leverage private sector investment from the City of London to invest in Green Infrastructure Projects in India, What amount of money is being allocated for it by each country?
(a) 100£
(b) 120 £
(c) 300 £
(d) 450 £
Ans: (b)
Related Facts:-
- On 4, April, 2017; India and the UK announced the launch of an Early Market Engagement for the joint UK-India Fund.
- This is namely a Green Growth Equity Fund which aims to leverage private sector investment from the City of London to invest in green infrastructure projects in India.
- This was announced at the bilateral meeting between Arun Jaitley, the Minister of Finance, Defence and Corporate Affairs, Government of India, and Rt Hon Philip Hammond MP, Chancellor of the Exchequer, Government of UK in Delhi
Both governments agreed upon to invest up to £120 million each (i.e. totally £ 240 million) in the joint fund which will be established under the NIIF framework.
Related Links:-
http://pib.nic.in/newsite/PrintRelease.aspx?relid=160487
http://www.thehindu.com/todays-paper/tp-business/uk-india-unveil-joint-green-fund/article17835536.ece