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Source: The post is based on the article “Scheme for Financial Support for Project Development Expenses of PPP Projects – ‘IIPDF Scheme” published in PIB on 8th November 2022.
What is the News?
The Department of Economic Affairs(DEA), Ministry of Finance notified the Scheme for Financial Support for Project Development Expenses of PPP Projects – India Infrastructure Project Development Fund Scheme(IIPDF Scheme).
What is India Infrastructure Project Development Fund Scheme (IIPDF Scheme)?
Setup in: 2007
Nodal Ministry: Department of Economic Affairs(DEA), Ministry of Finance
Type: Central Sector Scheme
Aim: To aid the development of quality PPP projects by providing necessary funding support to the Project Sponsoring Authorities(PSA) both in the Central and State Governments.
Funding: The IIPDF will contribute upto 75% of the project development expenses to the Sponsoring Authority as an interest-free loan. The balance of 25% will be co-funded by the Sponsoring Authority.
Significance: The fund will help the sponsoring authority to cover a portion of the PPP transaction costs thereby reducing the impact of costs related to procurement on their budgets.
