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Mahesh

09/11/22 13:53 PM IST

Scheme for Financial Support for Project Development Expenses

In News
  • The Department of Economic Affairs (DEA), Ministry of Finance, Government of India, notifies Scheme for Financial Support for Project Development Expenses of PPP Projects – India Infrastructure Project Development Fund Scheme (IIPDF Scheme).
About IIPDF Scheme 
  • The India Infrastructure Project Development Fund Scheme (IIPDF) was launched by the Department of Economic Affairs (DEA).
  • This central sector scheme extends financial aid required for the development expenses of Public Private Partnership (PPP) projects.
  • It provides funding for project sponsoring authorities (both in the central and state governments) to access services provided by Transaction Advisors (TAs) and consultants involved in the development of the PPP projects.
  • This will help effectively implement bankable viable PPP projects that seek to modernize infrastructure in India.
  • The total corpus of the India Infrastructure Project Development Fund is 150 crore for three years.
  • The new scheme is an addition to the currently operational Scheme for Financial Support to PPPs in Infrastructure (VGF Scheme), which was notified in December 2020.
About VGF Scheme 
  • The Scheme for Financial Support to Public Private Partnerships (PPPs) in Infrastructure Viability Gap Funding (VGF) was launched by the Department of Economic Affairs in 2006 to provide funding for PPP infrastructure projects that are economically justified but not commercially viable because of large capital requirements.
  • The Viable Gap Funding (VGF) of 40 per cent of the Total Project Cost (TPC) is provided by the Indian Government and the sponsoring authority in the form of capital grant at the construction stage of the project.
Source- PIB 

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