KIIFB a transformative force for State: CM

Chief Minister Pinarayi Vijayan emphasized the importance of the Kerala Infrastructure Investment Fund Board (KIIFB) in realizing the vision of a ‘Nava Keralam’ (new Kerala) where the living standards of every citizen match those of developed countries.

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

First established in 1999, KIIFB was revived in 2016 by the Left Democratic Front (LDF) government with the aim of mobilizing funds for infrastructure projects without burdening the State exchequer. The initiative has since revolutionized Kerala’s approach to development, the Chief Minister said.

“KIIFB’s projects cover every constituency of the State and ensure inclusive growth without any discrimination. More than ₹ 5,000 crore has been invested in revamping public education. Schools across the State have been modernized with new buildings and smart classrooms. Such efforts have restored public confidence in the education system,” he noted.

He also highlighted KIIFB’s role in improving infrastructure and its support for healthcare transformation. “Development must touch every district and every citizen. From Manjeswaram to Parassala, Kerala must function as a connected urban continuum where no area is left behind,” the Chief Minister said.

Responding to criticisms about KIIFB’s funding model, he reiterated that all financial operations are transparent and professionally managed. “KIIFB works under the guidance of the country’s top financial experts. The funds were used solely for development and were duly repaid. There is no reason for doubt or distrust,” he said.

Delivering the Presidential address, Finance Minister KN Balagopal acknowledged the financial difficulties faced due to the Central government’s decision to include KIIFB’s debts in the overall debt of the State, but assured that no project would be stalled. The LDF government is determined to take forward its initiatives without allowing these restrictions to affect development.

Kerala’s transition to a knowledge-based development model focusing on education, health, tourism and research. He added that KIIFB will continue to play a key role in generating income and creating job opportunities in all regions.

Speaking on the occasion, KIIFB chief executive officer (CEO) KM Abraham assured that KIIFB’s borrowings are based on secure revenue streams and are managed through an Artificial Intelligence and Machine Learning based Asset Liability Management System. He also highlighted the role of two emerging KIIFB partner institutions, namely KIIFCON, which have successfully implemented major projects including Kochi Smart City; and KIFML, which he said will soon become a major source of development funds for the State.

Revenue Minister K. Rajan, Food and Civil Supplies Minister GR Anil, Animal Husbandry Minister J. Chinchurani, VK Prasanth, N. Jayaraj, V. Joy, MLAs, Chief Secretary A. Jayathilak, KIIFB Additional CEO Mini Antony and Executive Director KP Purushothaman also spoke at the event.