Infrastructure Current Affairs - 2019

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Kerala becomes first state to have 4 international airports with inauguration of Airport at Kannur

Kerala has become first state in the country to have four international airports with the inauguration of Kannur airport. The first commercial flight from this airport Air India Express flight IX 715 with 180 passengers on board to Abu Dhabi was flagged off recently. The other three international airports are Trivandrum International Airport, Cochin International Read More…

Month:  Categories: States

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Government inks $300 million loan agreement with ADB to support IIFCL

Union Government has inked $300 million Loan Agreement with Asian Development Bank (ADB) to support lending by India Infrastructure Finance Company Limited (IIFCL). The loan will enhance availability of long-term finance for PPP projects, improve operational capacity of IIFCL. It will expand portfolio of infrastructure financing instruments available to IIFCL. It is expected to compliment Read More…

Month:  Categories: Business, Economy & Banking

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Kerala Infrastructure Investment Fund Board to issue masala bonds worth Rs 5,000 crore for development works

Kerala Infrastructure Investment Fund Board (KIIFB) is going to issue masala bonds worth Rs. 5,000 crore to mobilise funds for various development works. KIIFB has appointed Standard & Poor’s and Fitch Ratings for rating the masala bonds issue. The bonds will be listed in London and Singapore stock exchanges. The funds will be raised in Read More…

Month:  Categories: States

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CCEA approves continuation of Pradhan Mantri Gram Sadak Yojana

Cabinet Committee on Economic Affairs (CCEA) has approved continuation of Pradhan Mantri Gram Sadak Yojana (PMGSY) beyond 12th Five Year Plan period ((2012–2017)). It will help in connecting 38,412 habitations at estimated cost of Rs. 84,934 crore. For this, fund sharing pattern between centre and states will be same (Thus, central government share will be Read More…

Month:  Categories: Government Schemes & Projects

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NHAI ink MoU with SBI for Long Term, unsecured Loan of Rs 25,000 crore

National Highways Authority of India (NHAI) has singed Memorandum of Understanding (MoU) with country’s largest lender State Bank of India (SBI) for long term unsecured loan of Rs. 25,000 crore for 10 years with 3 years of moratorium on repayments. This is SBI’s highest long term unsecured loan to any entity and also largest loan Read More…

Month:  Categories: Business, Economy & Banking

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AIIB to invest $200 million into NIIF to boost infrastructure projects

The Asian Infrastructure Investment Bank (AIIB) has approved investment of $200 million in India’s National Investment & Infrastructure Fund (NIIF) to give greater impetus to mega infrastructure projects. It will be investing US $100 million now and remaining $100 million in the time to come. India: largest recipient of AIIB AIIB so far approved $4.4 Read More…

Month:  Categories: Business, Economy & Banking

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Pradhan Mantri Gram Sadak Yojana: Government inks $500 million loan agreement with World Bank

Government (Union Finance Ministry) has signed US $500 million (Rs 3,371 crore) loan agreement with World Bank to provide additional financing for Pradhan Mantri Gram Sadak Yojana (PMGSY) rural road projects. The loan has maturity of 10 years along with 3 year grace period. It will provide additional financing for PMGSY Rural Roads Project to Read More…

Month:  Categories: Government Schemes & Projects

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