The government has appointed Sujoy Bose of the International Finance Corporation as the Chief Executive Officer of the National Investment and Infrastructure Fund.

“Sujoy Bose, at present, Director and Global Co-Head, Infrastructure and Natural Resources, International Finance Corporation(IFC), Washington DC, has been appointed as the Chief Executive Officer (CEO) of National Investment and Infrastructure Fund (NIIF),” said the Finance Ministry in a statement on Monday. He has extensive international experience in the infrastructure sector including experience in raising funds from international investors, the statement added.

Announced in the Union Budget 2015-16, the NIIF with a corpus of ₹40,000 crore will bring in domestic and foreign investments to fund infrastructure projects.

While the Centre has invested ₹20,000 crore in the fund, the balance is expected from the private sector.

The government has already signed pacts with investors from Qatar, Abu Dhabi and Russia for the NIIF.

The Finance Ministry had in December last year advertised for the post of the CEO of the NIIF who would be responsible for the overall management and its operations.

Hoping to bring in a professional, it had also promised that “the compensation for the selected candidate will be in tune with the industry practice”.

A search-cum-selection committee was then set up under Shaktikanta Das, Secretary, Department of Economic Affairs.

While it was waiting to appoint a CEO, the government has already readied a shelf of projects for the NIIF and has also appointed a small team of officials.

Related Topics
comment COMMENT NOW