In news– The Department of Economic Affairs (DEA), Ministry of Finance has notified Scheme for Financial Support for Project Development Expenses of PPP Projects – India Infrastructure Project Development Fund Scheme (IIPDF Scheme).
Key features of the scheme-
- DEA has come out with Scheme for Financial Support for Project Development Expenses of PPP Projects – ‘IIPDF Scheme’ for providing necessary support to the PSAs, both in the Central and State Governments, by extending financial assistance in meeting the cost of transaction advisors and consultants engaged in the development of PPP projects.
- As a Central Sector Scheme, the IPDF Scheme will aid development of quality PPP projects by providing necessary funding support to the project sponsoring authorities, both in the Central and State Governments, for creating a shelf of bankable viable PPP projects for achieving the vision of modern infrastructure for the country.
- The corpus of this fund is Rs 150 crore for three years.
- Funding under IIPDF Scheme is in addition to the already operational Scheme for Financial Support to PPPs in Infrastructure (VGF Scheme) notified in 2020, through which infrastructure projects undertaken through PPP mode that are economically justified but commercially unviable are supported.