Abbreviation | KIIFB |
---|---|
Formation | 1999 |
Headquarters | Thiruvananthapuram, India |
Chairman | Pinarayi Vijayan (Chief Minister of Kerala) |
Vice Chairman | K. N. Balagopal (Finance Minister of Kerala) |
CEO | K.M. Abraham, Ex-officio Secretary, Finance (Infrastructure), Kerala |
Parent organization | Finance Department, Govt. of Kerala |
Website | kiifb |
Kerala Infrastructure Investment Fund Board (KIIFB) was constituted by Government of Kerala as a Body Corporate financial institution in the Indian state of Kerala to mobilize funds for infrastructure development from outside the state revenue. [1] [2] KIIFB is a statutory body constituted by the 'Kerala Infrastructure Investment Fund Act, 1999' (Act 4 of 2000).
The current mandate of KIIFB is to provide funding support to priority major projects at a total outlay of INR 50,000 Cr in five years starting from the financial year 2016-17. So far KIIFB has approved 821 projects for INR 60,102.51 Cr. [3] The projects cover all the vital sectors like Education, Health Care, Transport (roads, bridges, waterways and light metro rail), Electricity, Water Supply etc. [4] [5]
KIIFB's funding process starts either with declaring priority projects for KIIFB funding in the State Budget Speech or with a decision of the Council of Ministers for the same. Following it, the Administrative Departments concerned issue Administrative Sanction Orders and appoint Special Purpose Vehicles (SPVs) for the preparation of detailed implementation plans and implement the same. From that initial stage onward KIIFB arranges expert support for Administrative Departments and SPVs to develop all project-related documents following standards to ensure KIIFB's funding approval and enter into the implementation phase on a time-bound manner. [6]
KIIFB has become the first sub-sovereign entity in India to tap the offshore Rupee international bond market with the USD 312 million equivalent (₹ 2,150 crore) senior secured fixed-rate bond -Masala Bond. [7] The bond, with a five-year tenor and a 9.723 per cent interest , has been admitted to London Stock Exchange’s International Securities Market (ISM) on 17 May 2019. [8]
On 20 December 2019, KIIFB started a 13 months long infrastructure awareness campaign called Kerala Nirmithi to familiarize people with the need for infrastructure projects and the projects taken up with the funding support of KIIFB. It is being conducted in all the districts of Kerala. The expo connected to the campaign gives people opportunity to see 3D models and Virtual Reality presentations of infrastructure projects and to discuss the technical details with experts. Competitions for students are also being organized. [9]
The economy of Kerala is the 9th largest in India, with an annual gross state product (GSP) of ₹9.78 lakh crore in 2020–2021. Per-capita GSP of Kerala during the same period is ₹257,711 (US$3,200), the sixth largest in India. In 2019–20, the tertiary sector contributed around 63% of the state's GSVA, compared to 28% by secondary sector, and 8% by primary sector.
Infopark, Kochi is an information technology park situated in the city of Kochi, Kerala, India. Established in 2004 by the Government of Kerala, the park is spread over 260 acres (105.2 ha) of campus across two phases, housing 546 companies which employs about 63,600 professionals as of 2022.
Kerala, a state in Southern India, has a network of 11 National Highways, 72 State Highways and many district roads.
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The Silver Line is a proposed higher-speed rail line in India that would connect Thiruvananthapuram, the capital city, and Kasaragod of Kerala state. It will have an operating speed of 200 kilometres per hour (120 mph), Maximum Design Speed: 220 km/h (140 mph), structures designed for 250 km/h (160 mph) allowing trains to cover the 532-kilometre (331 mi) distance in less than four hours, compared to the present 10 to 12 hours it takes to traverse this distance. Thiruvananthapuram, Kollam, Chengannur, Kottayam, Kochi, Thrissur, Tirur, Kozhikode, Kannur and Kasaragod will be the stations in this corridor. The project is temporarily halted by the state government till the Central government approval.
Shukapuram, colloquially Chokiram, is a village in Ponnani taluk, Malappuram district of Kerala. It is located near Edappal, on the plains south of the Bharathappuzha. The village is one of the earliest Brahmin settlements in Kerala.
Emerging Kerala is the name given to a biennial investors summit held by the Government of Kerala in Kerala, India. The event is aimed at bringing together business leaders, investors, corporations, thought leaders, policy, and opinion makers.
Kerala Rapid Transit Corporation Limited, abbreviated to KRTCL, is a special purpose vehicle (SPV) formed to implement light metro projects in Kerala. Kerala has light metro systems planned for the cities of Kozhikode and Thiruvananthapuram. The SPV is fully owned by the State Government and the Chief Minister is the Chairman of the company. The head office of KRTCL is at Thiruvananthapuram, with branches at Kozhikode and Thiruvananthapuram. Earlier it was Kerala Monorail Corporation Ltd. Since monorail was not financially viable, DMRC proposed light metro.
The Sagarmala Programme is an initiative by the Government of India to enhance the performance of the country's logistics sector. The programme envisages unlocking the potential of waterways and the coastline to minimize infrastructural investments required to meet these targets.
Century Real Estate Holdings is a privately held Indian real estate and construction company founded in 1973 and headquartered in Bengaluru, Karnataka.
Masala bonds are bonds issued outside India but denominated in Indian Rupees, rather than the local currency. Masala is a Hindi word meaning spices. The term was used by the International Finance Corporation (IFC) to evoke the culture and cuisine of India. Unlike dollar bonds, where the borrower takes the currency risk, Masala bonds makes the investors bear the risk. The first Masala bond was issued by the World Bank-backed IFC in November 2014 when it raised ₹10 billion bonds to fund infrastructure projects in India. Later in August 2015 International Financial Cooperation for the first time issued green masala bonds and raised ₹3.15 Billion to be used for private sector investments that address climate change in India.
National Investment and Infrastructure Fund Limited (NIIFL) is an Government owned company which maintains infrastructure investments funds for international and Indian investors anchored by the Government of India. The objective behind creating this organisation was to catalyse capital into the country and support its growth needs across sectors of importance.
Kerala Infrastructure and Technology for Education (KITE) is a state owned special purpose company under Department of General Education of the Government of Kerala. It was developed to support ICT enabled education for schools in Kerala. The erstwhile IT@School Project was transformed into KITE for extending its scope of operations in August 2017. KITE was the first SPV company to get funded by KIIFB.
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Kandathil Mathew Abraham is an Indian bureaucrat and retired IAS officer, who is currently serving as Chief Principal Secretary to the Chief Minister of Kerala. He also serves as the Chief Executive Officer of the Kerala Infrastructure Investment Fund Board (KIIFB) and Executive Vice Chairperson of Kerala Development and Innovation Strategic Council. He retired as the Chief Secretary of Kerala in December 2017. He belongs to the 1982 batch of IAS. He was instrumental in bringing out the Sahara Group Scam when he was a member of the Securities and Exchange Board of India.
The new Gujarat IT/ITeS policy was unveiled on 8 February 2022 at GIFT City, Gandhinagar by Chief Minister Bhupendra Patel. The objective of the policy is to strengthen the Information technology ecosystem of Gujarat and to generate 1 lakh direct jobs in the IT/ITeS sector. The goal is to improve IT export to 25,000 crore from 3,101 crore.
Kerala Fibre Optic Network (K-FON) is a public-funded initiative by the Kerala government that aims to provide high-speed Internet connectivity to the whole Indian state of Kerala. It is the project of the first Pinarayi Vijayan government and was launched in February 2021 to ensure universal Internet connectivity, addressing the issue of the digital divide, and connecting 2 million below-poverty-line (BPL) families in Kerala. KFON got the Internet Service Provider Licence from the Department of Telecommunications in 2022, making Kerala the first Indian state to have its own Internet service. In the first phase, K-Fon's internet service will be available in 14,000 economically backward houses and over 30,000 government institutions. The project was inaugurated on 5 June 2023 by the Chief Minister Pinarai Vijayan.