UK and India Launch Trailblazing Infrastructure Financing Bridge

The United Kingdom and India have introduced the United Kingdom-India Infrastructure Financing Bridge (UKIIFB) to bolster financial services and sustainable infrastructure investments. The initiative, supported by major organizations, aims to accelerate India's infrastructure development, remove investment barriers, and promote international collaboration.

The United Kingdom and India have officially unveiled the United Kingdom-India Infrastructure Financing Bridge (UKIIFB), a new venture aimed at enhancing their collaboration in financial and professional services, according to an official announcement by the City of London. This partnership, formalized by the City of London Corporation and NITI Aayog, seeks to channel sustainable infrastructure investments into India, utilizing the UK's expertise in managing and structuring large-scale projects.

A pivotal element of the UKIIFB is the establishment of a steering committee, featuring representatives from prestigious entities such as HM Treasury, Aon, Arup, Mott MacDonald, Clifford Chance, and Sequoia Investment Management Company. This committee will oversee the implementation of the initiative, concentrating on projects including national highways, regional rapid transport systems, and renewable energy ventures.

The steering committee will address several goals: accelerating the mobilization of international private-sector investment into Indian infrastructure, providing policy recommendations to overcome investment barriers, and devising best practices for sustainable projects. Chris Hayward, Policy Chairman of the City of London Corporation, expressed enthusiasm about the partnership, describing it as a new chapter in the extensive business relationship between the two nations. He highlighted the UK's expertise in professional services, finance, and major projects as a natural fit to meet India's growing infrastructure needs.

BVR Subrahmanyam, CEO of NITI Aayog, emphasized the significance of the UKIIFB, noting that the initiative was jointly announced by India's Finance Minister and the UK's Chancellor of the Exchequer. He described it as a substantial collaborative effort that underscores the commitment of both nations to unlock major infrastructure investment opportunities in India. He further stated that this initiative would not only accelerate India's economic growth but also strengthen its global position.

Vikram Doraiswamy, the High Commissioner of India to the UK, also praised the establishment of the financing bridge, remarking that the announcement builds on over a year of joint effort. He called the UKIIFB a testament to the robust bilateral economic relationship between the two countries.

Industry experts echoed similar sentiments. Simon Harris of Mott MacDonald highlighted the importance of investment in climate-resilient infrastructure for India's development, while Sowmya Parthasarathy of Arup emphasized its foundational role in economic growth. Mark Courtneidge of Aon UK and Anurag Gupta of Sequoia Investment Management Company also endorsed the UKIIFB, citing its potential to drive significant infrastructure advancements in India.

(With inputs from agencies.)