Abu Dhabi - Mubasher: The National Investment and Infrastructure Fund (NIIF) of India announced on Monday that it has signed a $1 billion investment agreement with Abu Dhabi Investment Authority (ADIA), as reported by the Economic Times.

"As part of the comprehensive partnership agreement, ADIA will become the first institutional investor in NIIF's Master Fund and a shareholder in National Investment and Infrastructure Limited, the NIIF's investment management company," according to a statement issued in Monday.

The CEO of NIIF, Sujoy Bose said that the agreement comes after an extensive process of collaboration with ADIA to develop an investment structure that is attractive to international investors while remaining closely aligned with the fund’s objectives.

The fund is set to play an important role in facilitating the flow of foreign capital into India s infrastructure sector, said Khadem AlRemeithi, the executive director of ADIA’s real estate and infrastructure department.