KIIFB a transformative force for State: CM

Chief Minister Pinarayi Vijayan has stressed the significance of the Kerala Infrastructure Investment Fund Board (KIIFB) in realising the vision of a ‘Nava Keralam’ (new Kerala) where the living standards of every citizen match those of developed nations.

Inaugurating the silver jubilee celebrations of KIIFB here on Tuesday, Mr. Vijayan described the State’s flagship infrastructure funding and development entity as a transformative force that helped the State overcome years of stagnation and paved way for large-scale infrastructure development within Kerala’s acclaimed model of development and social progress.

Originally established in 1999, KIIFB was revitalised in 2016 by the Left Democratic Front (LDF) government to mobilise funds for infrastructure projects without burdening the State exchequer. The initiative has since revolutionised the way Kerala approaches development, the Chief Minister said.

“KIIFB’s projects span across every constituency of the State, ensuring inclusive growth without any discrimination. Over ₹5,000 crore has been invested in revamping public education. Schools across the State have been modernised with new buildings and smart classrooms. Such efforts have restored public confidence in the education system,” he pointed out.

He also highlighted KIIFB’s role in upgrading infrastructure and its support to health-care transformation. “Development must touch every region and every citizen. From Manjeswaram to Parassala, Kerala must function as one connected urban continuum, where no area is left behind,” the Chief Minister asserted.

Responding to criticisms about KIIFB’s funding model, he reiterated that all financial operations are transparent and professionally managed. “KIIFB functions under the guidance of the country’s top financial experts. Funds have been used solely for development and repaid properly. There is no reason for doubt or distrust,” he claimed.

Finance Minister K.N. Balagopal, who delivered the presidential address, acknowledged the financial challenges faced due to the Central government’s decision to include KIIFB’s borrowings in the State’s overall debt, but assured that no project would be halted. The LDF government is committed to taking its initiatives forward without letting these constraints affect development.

Kerala’s shift towards a knowledge-based development model, focussing on education, health care, tourism and research. KIIFB, he added, will continue to play a key role in generating revenue and creating job opportunities across all districts.

Speaking on the occasion, KIIFB chief executive officer (CEO) K.M. Abraham assured that KIIFB’s borrowings are based on secure revenue streams and managed through an AI- and machine-learning-based Asset Liability Management System. He also stressed on the role of two emerging KIIFB associate institutions, viz., KIIFCON, which has successfully delivered major projects including Kochi Smart City; and KIFML, which he said will soon become a major source of development funding for the State.

Revenue Minister K. Rajan, Food and Civil Supplies Minister G.R. Anil, Animal Husbandry Minister J. Chinchurani, V.K. Prasanth, N. Jayaraj, V. Joy, MLAs, Chief Secretary A. Jayathilak, KIIFB Additional CEO Mini Antony and Executive Director K.P. Purushothaman also spoke on the occasion.