View source for Kerala Infrastructure Investment Fund Board

{{Use dmy dates|date=August 2019}}
{{Use Indian English|date=August 2019}}
{{Infobox organization
| name = Kerala Infrastructure Investment Fund Board
| native_name = <!-- Organization's name in its local language -->
| native_name_lang = <!-- ISO code of the above language -->
| named_after = 
| image = File:Official_emblem_of_Kerala_Infrastructure_Investment_Fund_Board_(KIIFB),_a_statutory_board_under_Finance_Department_of_Govt._of_Kerala,_India.png
| image_size = thumb
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| abbreviation = KIIFB
| motto = 
| predecessor = 
| merged = <!-- Any other organizations with which the organization was merged -->
| successor = 
| formation = 1999<!-- or: | established = --> <!--e.g. use {{start date and age|df=yes|YYYY|MM|DD}}-->
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| extinction = <!-- or: | dissolved = -->   <!--e.g. use {{end date and age|df=yes|YYYY|MM|DD}}-->
| merger = <!-- Other organizations (if any) merged to constitute the organization -->
| type = <!-- e.g. [[Governmental organization]], [[Non-governmental organization|NGO]], etc. -->
| status = <!-- Organization's legal status and/or description (company, charity, foundation, etc.) -->
| purpose = <!-- or: | focus = -->       <!--(humanitarian, activism, peacekeeping, etc)-->
| professional_title = <!-- for professional associations -->
| headquarters = [[Thiruvananthapuram]], [[India]]
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| language = <!-- or: | languages = --> <!--Any official language or languages used by the organization-->
| sec_gen = <!-- Name of the organization's Secretary General (if post exists) -->
| leader_title = Chairman
| leader_name = [[Pinarayi Vijayan]] (Chief Minister of Kerala)
| leader_title2 = Vice Chairman
| leader_name2 = [[K. N. Balagopal]] (Finance Minister of Kerala)
| leader_title3 = CEO
| leader_name3 = [[Kandathil Mathew Abraham|K.M. Abraham]], Ex-officio Secretary, Finance (Infrastructure), Kerala
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| main_organ = <!-- or: | publication = --> <!--Organization's principal body (assembly, committee, board, etc) or publication-->
| parent_organization = [[Department of Finance (Kerala)|Finance Department, Govt. of Kerala]]<!-- or: | parent_organisation = -->
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| slogan = <!-- in quotemarks / inverted commas -->
| website = {{url|https://kiifb.org/}}
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| formerly = <!-- Any former names by which the organization known -->
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}}

'''Kerala Infrastructure Investment Fund Board''' ('''KIIFB''')  was constituted by Government of Kerala as a Body Corporate [[financial institution]] in the [[States and union territories of India|Indian state]] of [[Kerala]] to mobilize funds for infrastructure development from outside the state revenue.<ref>[http://www.thehindu.com/news/national/kerala/big-push-for-infrastructure-in-budget/article17403255.ece Hindu: Big push for infrastructure in Budget]</ref><ref>[https://www.newindianexpress.com/states/kerala/2017/mar/04/kerala-budget-infrastructure-projects-get-a-major-fillip-1577360.html Indian Express: Kerala Budget: Infrastructure projects get a major fillip]</ref> 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.<ref>[https://www.newindianexpress.com/states/kerala/2020/nov/25/centre-trying-to-sabotage-keralasdevelopment-plans-pinarayi-2227650.html The New Indian Express, Report dated 25th Nov, 2020]</ref> The projects cover all the vital sectors like Education, Health Care, Transport (roads, bridges, waterways and light metro rail), Electricity, Water Supply etc.<ref>[https://www.financialexpress.com/india-news/kerala-to-mobilise-r50000-crore-for-infrastructure-development/437957/ Financial express:Kerala to mobilise Rs 50,000 crore for infrastructure development]</ref><ref>[http://kiifb.org/prjStatus.jsp KIIFB: Projects page of official website]</ref>

==Funding Process==
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.<ref>[http://kiifb.org/includes/fileViewer.jsp?fmde=res&did=53&fname=GO(Ms)No.69-2018-Fin-Dated24-02-2018.pdf&dPrfx=GOnC KIIFB Funding Guidelines: Government Order (MS) No.69/2018/Fin dated 24/02/2018 from the official website]</ref>

==Issuance of Masala Bond==

<!-- Deleted image removed: [[File:KIIFB Masala bond issuance.png|thumb|left|Masala bond issuance at LSE]]  -->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 bonds|Masala Bond]].<ref>[https://www.businesstoday.in/markets/stocks/kerala-board-celebrates-london-masala-bond-listing/story/347718.html Business Today: Kerala board celebrates London Masala Bond listing]</ref> 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.<ref>[https://www.thehindubusinessline.com/news/kerala-board-celebrates-london-masala-bond-listing/article27162685.ece The Hindu Business Line: Kerala board celebrates London Masala Bond listing]</ref>

==Kerala Nirmithi Awareness Campaign==

[[File:KIIFB major projects on Kerala Map.png|thumb|right|Major projects Funded by KIIFB are marked  on Kerala Map]] 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.<ref>[https://timesofindia.indiatimes.com/city/kochi/petrochemical-park-will-offer-15k-jobs-cm/articleshow/72909377.cms The times of India: Petrochemical park will offer 15,000 jobs: Pinarayi Vijayan (Report on Kerala Nirmithi inauguration)]</ref>
==See also==
*[[Economy of Kerala]]
*[[Roads in Kerala]]
*[[Education in Kerala]]

== References ==
{{reflist}}
{{Kerala}}
{{Kerala topics}}
[[Category:State agencies of Kerala]]
[[Category:1999 establishments in Kerala]]
[[Category:Government agencies established in 1999]]
[[Category:Infrastructure in India]]