UK and India Form Historic Partnership with Infrastructure Financing Bridge

The City of London Corporation and NITI Aayog have announced the United Kingdom-India Infrastructure Financing Bridge (UKIIFB). This partnership aims to leverage UK expertise to boost sustainable infrastructure investment in India. A newly-formed steering committee will accelerate private-sector investments and address barriers for sustainable projects.

The City of London Corporation and the National Institution for Transforming India (NITI Aayog) announced today the formation of the United Kingdom-India Infrastructure Financing Bridge (UKIIFB), marking a significant strengthening of financial and professional services partnerships between the UK and India. This initiative aims to leverage the UK's expertise in structuring major projects to unlock sustainable infrastructure investments in India.

A newly established steering committee, featuring representatives from HM Treasury, Aon, Arup, and other major entities, will spearhead the acceleration of international private-sector investments in Indian sustainable infrastructure. The committee will make recommendations to policymakers to address investment barriers and promote best practices to make sustainable projects more attractive to global investors.

Chris Hayward, Policy Chairman of the City of London Corporation, expressed his delight over the new agreement, highlighting the UK's expertise in professional services and finance as critical for meeting India's growing infrastructure needs. BVR Subrahmanyam, CEO of NITI Aayog, hailed the agreement as a game-changer for India's economic ambitions. Vikram Doraiswamy, Indian High Commissioner to the UK, emphasized the deepening relationship between the two nations through this collaborative effort.

(With inputs from agencies.)