PROFILE

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 objective of the Fund was to provide investment for projects in the State of Kerala in the sectors of Irrigation, Roads, Power, Water Supply, Inland Navigation, Ports, Solid Waste Management and Drainage. The management of the Fund is detailed in the Scheme notified by Government in S.R.O No.920/99 published in the Extraordinary Gazette No.2073 dated 11.11.1999.

Members

KIIFB was constituted by Government as a Body Corporate having perpetual succession consisting of the following members.

  • Hon'ble Chief Minister- Chairperson
  • Hon'ble Minister for Finance-
    Vice- Chairperson
  • Chief Secretary to Government- Member
  • CEO & Member Secretary
  • Vice-chairman State Planning Board - Member
  • Secretary (Law)- Member
  • Secretary (Finance)- Member
  • Secretary (Finance Resources)- Member
  • Seven independent members who are experts, who have worked in an institution of national repute in one or more of the areas of Finance, Banking, Economics

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The Board has previously mobilized funds to the tune of Rs.1023.71 crore through three series of Redeemable and Non-Convertible Non-Statutory Lending Rate (Non SLR) bonds by private placement fully backed by State Government Guarantee.

The fund deposited in the Government Treasury in accordance with the KIIF Act & Scheme and has been utilised by government for funding infrastructure projects through its Plan Schemes.

Government of Kerala is now poised for accelerated investment in Infrastructure for ensuring sustainable growth in the economy. To finance critical and large infrastructure projects the Government intends to mobilize funds both in the medium as well as long term. It has approved a plan to issue General Obligation Bonds against unconditional Government guarantee and Revenue Bonds with structured payment mechanism for medium term requirement and has initiated steps to raise funds to meet long term requirements through Alternative Investment Funds (AIF), Infrastructure Investment Trust (InVIT), Infrastructure Debt Fund (IDF) and build the institutional framework needed for this. In this new scenario KIIFB has been restructured to act as the key Special Purpose Vehicle (SPV) for mobilising and channelling the funds to the various infrastructure SPVS. With the restructured and rejuvenated KIIFB the future looks bright for the development of key infrastructure in Kerala.