Kerala Infrastructure Investment Fund Board (KIIFB) came into existence on 11.11.1999 under the Kerala Infrastructure Investment Fund Act 1999 (Act 4 of 2000) to manage the Kerala Infrastructure Investment Fund. The main intention of the Fund was to provide investment for critical and large infrastructure projects in the State of Kerala. Comprehensive modification of the Act and Scheme has been made through an amendment Ordinance in August 2016. With new strategy and structure, KIIFB aims to dynamically mobilise funds for the infrastructure development of Kerala. This also includes major land acquisition needs of the State. KIIFB have recourse to the advanced financial instruments approved by SEBI and RBI and is expecting an upspring of sustainable infrastructure development of the State.
The Fund was established with the main objective of providing investment for projects in the State of Kerala in sectors like Transport, Water Sanitation, Energy, Social & Commercial Infrastructure, IT and Telecommunication etc. KIIFB will assist the Government and its agencies in the various aspects pertaining to Infrastructure Development and will act as the nodal agency for scrutinizing, approving and funding major infrastructure projects including PPP projects. With the restructured and rejuvenated KIIFB the future looks bright for the development of key infrastructure in Kerala.
|Chairman||Pinarayi Vijayan (Chief Minister of Kerala)|
|Vice Chairman||T.M.Thomas Isaac (Finance Minister of Kerala)|
|CEO||K.M.Abraham, Additional Chief Secretary of Kerala (Finance)|
KIIFB in KWA
After the curtailment of allocation under NRDWP, the main source of funding for the implementation of water supply schemes of Kerala Water Authority is KIIFB. Under KIIFB funding, a total amount of Rs. 1587 crore was allocated for various water supply schemes including Rs.500 crore for 24×7 water supply for Kochi Smart City in the Revised Budget 2016-17. AS amounting to Rs. 1257.1 crores was sanctioned under 3 project codes WRD002, WRD003 & WRD010 (23 water supply schemes) for implementing water supply project & completion of 8 water supply schemes. Through which water supply schemes can be implemented in 13 municipalities and 68 panchayats. Out of this, Rs 163 crore is set apart for completing 8 drinking water schemes. The remaining Rs 1094 crore is used for the first phase of new projects (15 schemes). Four lakhs habitations from 14 panchayats will get immediate benefit on completion of the 8 water supply schemes. Under KIIFB funding, a total amount of Rs.1696 crore was allocated for 41 schemes in Budget 2017-18.