News Detail

• Odisha Government floats Urban Infrastructure Development Fund, The fund will pump funds for urban infrastructure development in the State.A seven-member board of OUIDF, headed by Chief Secretary Bijay Kumar Patnaik, has been formed. The other board members include principal secretary finance Jugal Kishore Mohapatra, commissioner-cum-secretary Housing & Urban Development Saurabh Garg and Bhubaneswar Development Authority (BDA) vice-chairman Deoranjan Kumar Singh. Another member will be representing the Government of India.Chartered accountant Rajib Sekhar Sahu and former CMD of Indian Oil Corporation Limited (IOCL) Sarthak Behuria have been taken as Independent Trustees of the OUIDF.
• The OUIDF will kick-start its operations with a start-up fund of 35-40 million pounds from the German banking group KfW and the DFID of Britain. Accordingly, a composite proposal indicating the total financial support to the OUIDF is submitted to the Union Ministry of Urban Development (MoUD). The MoUD would recommend the proposal of 35-40 million pound supports by the DFID to the Department of Economic Affairs (DEA) in the Union Ministry of Finance, said sources.The OUDIF will have the mandate to prepare, formulate and implement urban infrastructure projects covering land development, sanitation, road management and transport. The OUIDF would give financial assistance to Urban Local Bodies (ULBs), Statutory Boards, and departments, public sector undertakings and private investors for setting up infrastructure projects in the State.

Source