NHAI Signs MoU with NIIF for funding highway projects

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  1. The National Highways Authority of India(NHAI) has signed an MoU with National Investment and Infrastructure Fund(NIIF) for funding highway projects.
  2. This agreement is expected to provide innovative financial models including for the Bharatmala Pariyojana.
  3. Bharatmala Pariyojana is an umbrella program for the highways sector that focuses on optimizing efficiency of freight and passenger movement across India.
  4. The objective of the program is optimal resource allocation for a holistic highway development and improvement initiative.
  5. NIIF was set up in 2015 as an investment vehicle for funding commercially viable greenfield, brownfield and stalled projects in the infrastructure sector.
  6. NIIF invests in areas such as energy, transportation, housing, water, waste management and other infrastructure-related sectors in India.
  7. NHAI is an autonomous agency of the Government of India.It was set up in 1988 and is responsible for the management of a network of over 50,000 km of National Highways out of 1,15,000 km in India.It is a nodal agency of the Ministry of Road Transport and Highways.