Thiruvananthapuram: Kerala Infrastructure Investment Fund Council (Kiifb) Director Meeting on Saturday gave financial sanctions to 10 new projects worth RS 932.69 Crore.
With the latest agreement, Kiifb has provided financial sanctions to 912 projects worth RS 64, 344.64 Crore, the Minister of Finance of the State K n Balagopal said.
The Kiifb Executive Committee previously approved a set of seven other projects worth Rs 144.23 Crore.
The council and executive committee meetings together have cleared a total of 17 projects worth Rs 1, 076.62 Crore.
The projects that have been given financial sanctions by the Board include a 10 bed isolation ward in 140 hospitals throughout Kerala considering the situation of the pandemic in the state.
Four projects proposed by the fisheries sector include renovation of 26 fish markets.
Renovation of three markets under the Department of Local Mandiri Government in the city of Aluva and Nedumangad, Modernization of Cutting in Kalor, Rehabilitation Package which is part of the cleaning work in the West Coast Canal in Thiruvananthapuram under the shipping of Costa and the Department of Land Navigation and Renovation of Sea Walls that are damaged throughout Chellanam Beach and establishing Groynes for coastal protection is among other projects that receive council permission.
Rs 2,100CR for Green Project Funding: The Board Meeting also surrendered to borrow RS 2,100 Crore from the domestic and international market to promote non-conventional energy projects carried out as part of infrastructure development initiatives.
As part of this step, Kiifb will increase Rs 1,000 Crore from the domestic market through sales of green bonds and other 1,100 crore RS loans from the International Financial Corporation.
The term payment for this loan is 10 years.
The agency is required to obtain regulatory approval from the central institution and other institutions concerned.
By means of loans from various banks, the development of financial institutions and bonds, the body has borrowed RS 9,104.81 Crore so far from the total sanctions of Rs 10,167.34 Crore, he received RS 8848.91 Crore from the state vehicle tax state.
Kiifb is expected to receive around Rs 1,299 Crore more than these sources during the 2021-22 fiscal year.
Comparative funds will be used exclusively for a series of green initiatives taken by the Board.
The 42nd Board Meeting Kiifb was the first to be attended by Balagopal who replaced T M Thomas Isaac as the Minister of Finance in the term of office of the second Pinarayi Government Vijayan.