The National Investment and Infrastructure Fund and Japan Bank for International Cooperation, JBIC have tied up to launch a 600 million US dollar India-Japan Fund. This joint initiative will facilitate collaboration and investment between India and Japan in the field of climate and environment.

According to the Finance Ministry, the Government of India will contribute 49 per cent of the corpus and the remaining 51 per cent will be contributed by JBIC. This fund mechanism will promote Japanese investments in India by focussing on investing in environmental sustainability and low carbon emission strategies. The Finance Ministry has termed this collaboration a key milestone in the strategic and economic partnership between India and Japan.