First CEO of NIIF: Sujoy Bose [ Current Affairs ]
Sujoy Bose is appointed as the first Chief Executive Officer (CEO) of National Investment and Infrastructure Fund (NIIF) by the Union Government after recommendation of a search-cum-selection committee under the chairmanship of Economic Affairs Secretary Shaktikanta Das.
About Sujoy Bose
- Sujoy Bose was serving as the Director and Global Co-Head of Infrastructure and Natural Resources at International Finance Corporation (IFC), the private sector lending arm of the World Bank prior to this appointment.
- He has rich experience at global level in the infrastructure sector, with experience in levitation funds from international investors.
- For over 23 years he had worked at IFC where he had served as chief investment officer (CIO) and head of IFC African Latin American and Caribbean Fund at IFC Asset Management Company.
About National Investment and Infrastructure Fund (NIIF)
- NIIF is India’s quasi sovereign wealth fund (SWF) formed to attract investment from both domestic and international sources for infrastructure development in the country.
- It has been combined as a company under the Companies Act, 2013 and has been suitably authorized to work as investment manager of the fund.
- The objective of NIIF is to exploit economic growth of the country mostly through infrastructure development in commercially viable projects (both Greenfield and brownfield), with stalled projects.
- NIIF will solicit impartiality participation from strategic anchor partners for the security purpose.
- In 2016 - 17 Union Budget an initial budgetary allocation of 4000 crore rupees has also been made and when it require Government will also make further allocation.
- Published on: June 28, 2016