India-UK Partnership Boosts Sustainable Infrastructure with Landmark Financing Agreement

A groundbreaking India-UK financing agreement, the UK-India Infrastructure Financing Bridge, aims to catalyze sustainable investments in New Delhi's infrastructure. Signed in London, the agreement will facilitate rapid transport, national highways, and renewable energy projects. Also, the initiative will bridge the gap between India’s infrastructure aspirations and global investment standards.

In a landmark move to bolster sustainable international investments in New Delhi's expansive infrastructure projects, a pioneering India-UK financing agreement was inked in London on Wednesday. National highways, rapid transit systems, and renewable energy schemes are among the beneficiaries.

The UK-India Infrastructure Financing Bridge (UKIIFB) was solidified despite discussions during the UK Economic and Financial Dialogue last September. Operational for an initial two years, this collaboration between the City of London Corporation and India's NITI Aayog is poised to push forward mega infrastructure projects, ensuring they are ready for bidding.

The initiative marks an acceleration in India's economic growth and positions the country as a major global investment venue, according to B.V.R. Subrahmanyam, CEO of NITI Aayog. This partnership provides the City of London a significant advantage, particularly in green finance and scalable projects aimed at achieving net zero.

(With inputs from agencies.)