THIRUVANANTHAPURAM: The maiden director board meeting of the restructured Kerala Infrastructure Investment Fund Board (KIIFB) sanctioned Rs 4004.86 crore for 48 projects. Of the sanctioned Rs 4004.86 crore, Rs 1740.63 crore will be given as first instalment.

Fund will also be pooled by floating general obligation bonds through SBICAPS, followed by collecting Rs 4,000 crore through NABARD.

The meeting chaired by Chief Minister Pinarayi Vijayan decided to appoint former CAG Vinod Rai as chairman of KIIFB’s fund trustee and advisory commission (FTAC).  

Other members of the FTAC are former RBI deputy governor Usha Thorat and former NABARD chairman Prakash Bakshi. The members will have online access to fund’s accounts.