Goa sets up Rs.50 crore corpus for PPP projects

PANAJI - The Goa government Thursday decided to set aside a special corpus of Rs.50 crore (over $1 million) annually to cover viability gaps for infrastructure projects undertaken on a private public partnership (PPP) basis.

Addressing reporters after a cabinet meeting, Chief Minister Digambar Kamat said the viability gap funding (VGF) had been formulated on the lines of guidelines issued by the government of India.

VGF provides for financial support to infrastructure projects undertaken through PPP in order to make them commercially viable.

Any government department wishing to undertake a project in the PPP mode can avail of this fund to cover infrastructure costs or consultancy charges, Kamat said, adding that the fund would be called the Goa Infrastructure Project Development Fund.