Ramesh Chennithala Praises KIIFB for Transforming Kerala's Development Landscape

Kollam: Ramesh Chennithala, senior Congress leader and former Leader of Opposition, has praised the Kerala Infrastructure Investment Fund Board (KIIFB) for transforming the development landscape of Kerala.

He stated that development through KIIFB has reached all constituencies, including Haripad, the constituency he represents, and clarified that UDF has no opposition to the KIIFB model.

Projects which might have taken 25 to 50 years to materialize were implemented by the LDF government through KIIFB in a much shorter time. Over the past nine and a half years, KIIFB has approved 1,237 projects worth ₹98,836.83 crore, with further approvals in progress for projects already given in-principle clearance. The total project pipeline is estimated at around ₹1.1 lakh crore, of which projects worth ₹25,000 crore have already been completed.

Established on November 11, 1999, under the Kerala Infrastructure Investment Fund Act, KIIFB was strengthened after the LDF government came to power in 2016 through legislative amendments. Funds are mobilized through innovative financing mechanisms approved by RBI and SEBI, along with a portion of the state’s annual revenue allocated to the fund.