CCEA grants over 8 thousand crore rupees for continuation and and revamping of Infrastructure Viability Gap Funding

New Delhi, November 11:

The Cabinet Committee on Economic Affairs, CCEA has approved continuation and revamping of the Scheme for Financial Support to Public Private Partnerships in Infrastructure Viability Gap Funding Scheme till 2024-25 with a total outlay of eight thousand 100 crore rupees.

The aim of this Scheme is to promote Public Private Partnerships in social and economic infrastructure for efficient creation of assets, their proper operation and maintenance and make the economically and socially essential projects commercially viable.

Briefing reporters in New Delhi after the Cabinet meeting, Finance Minister Nirmala Sitharaman said, this will cater to Social sectors such as Waste Water Treatment, Water Supply, Solid Waste Management, Health and Education sectors.

These projects face bankability issues and poor revenue streams to cater fully to capital costs. She said,  the Central Government will provide a maximum of 30 per cent of Total Project Cost of the project and the State Government or Sponsoring Central Ministry will provide additional support up to 30 percent of Total project cost. The new Scheme will come into force within one month.