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Indian and US Ink IIA to Strengthen Investment Support

(L) Vinay Kwatra, Deputy Foreign Minister of the Government of India, and Scott Nathan, Chief Executive Officer of DFC. Photo: PIB

India and the United States have signed the Investment Encouragement Agreement (IIA) to strengthen investment support provided by the United States International Development Finance Corporation (DFC) in India. This further supports the development of India. This IIA replaces the agreement signed between the two countries in 1997.

The Indian Prime Minister’s Residence signs an agreement to address additional investment support programs offered by DFC, including debt, equity investments, investment guarantees, investment insurance or reinsurance, potential projects and grant feasibility studies. He said he did. Media release.

India and the United States have signed the Investment Encouragement Agreement (IIA) to strengthen investment support provided by the United States International Development Finance Corporation (DFC) in India. This further supports the development of India. This replaces the agreement signed in 1997. Signed to accommodate additional investment support programs.

Since the early signing of the IIA in 1997, significant progress has been made, including the establishment of a new institution called DFC, the U.S. government’s development finance institution, as the successor to the former Foreign Private Investment Company (OPIC) after its enactment. ..Recent US law, BUILD Act 2018

This agreement is a legal requirement of DFC to continue to provide investment support in India. DFC or its predecessor agency has been operating in India since 1974 and has provided $ 5.8 billion worth of investment support, of which $ 2.9 billion is unpaid. To provide investment support in India, DFC is considering a $ 4 billion worth of proposals. DFC has provided investment support in sectors such as COVID-19 vaccine manufacturing, healthcare finance, renewable energy, SME finance, financial inclusion and infrastructure.

The IIA was signed yesterday by Vinay Kwatra, Deputy Foreign Minister of the Government of India, and Scott Nathan, Chief Executive Officer of DFC in Tokyo, Japan.

Fiber2Fashion News Desk (KD)



Indian and US Ink IIA to Strengthen Investment Support

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