UK-India Partnership Boosts Sustainable Infrastructure Investments
In a big step for India’s growth, the UK India Infrastructure Financing Bridge (UKIIFB) has released its first-year report. Launched to bring together NITI Aayog and the City of London, this initiative focuses on unlocking massive investments in sustainable infrastructure projects. The report, out on Tuesday, shows exciting progress in making India’s infrastructure more resilient and green.
The UKIIFB aims to tap into the UK’s expertise in handling big projects. It helps structure and phase infrastructure developments, ensuring long-term funding for key sectors like highways and rapid transit. With India’s rapid urbanisation and push for economic growth, this partnership plays a vital role in attracting "patient capital"—that steady, long-term money needed for large-scale builds.
Key highlights from the UKIIFB Year 1 Report include a new Project Assessment Framework. This tool helps investors prioritize projects in highways and rapid transit, while weaving in sustainability measures like climate adaptation and ESG (Environmental, Social, and Governance) standards. The report shares real-world case studies from major expressway and ring road projects, proving how an investor-friendly pipeline can speed up deals.
To make investments safer, the report pushes for better transparency and risk mitigation. It suggests ways to cut uncertainties, protect revenues, and simplify money repatriation for investors. Building strong ties with UK infrastructure sponsors and embracing digital tools for monitoring will boost confidence and governance in these projects.
India’s infrastructure boom supports its climate goals and urban dreams, but it needs to overcome investment barriers. The UKIIFB tackles this by promoting standardized project preparation that’s globally benchmarked. Recommendations include expanding Detailed Project Reports (DPRs) to cover full-lifecycle risks, resilience, and value-for-money. It also calls for piloting risk-sharing frameworks and enhancing digital transparency across the board.
Looking ahead, as the UKIIFB enters Year 2, expect more action. The focus will be on refining assessment tools, expanding to sectors like green hydrogen and offshore wind, and deepening ties with investors and partners. This will unlock even more international capital for India’s infrastructure transformation.
The partnership kicked off on September 12, 2023, during the 12th UK-India Economic Dialogue. It got a fresh boost in September 2024 with a letter exchange between NITI Aayog and the City of London Corporation in London, aiming to accelerate sustainable development. With these efforts, India and the UK are paving the way for a brighter, greener future.
