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New Delhi, Nov. 23 The Government should identify 20-30 infrastructure projects of national importance and put them on fast track, industry body CII has said.

It called for setting up of a single agency which will facilitate and monitor implementation of the shortlisted 20-30 infrastructure projects of national importance.

To help PPP infrastructure projects reach financial closure within stipulated time, CII has suggested that India Infrastructure Finance Company Ltd (IIFCL) should provide refinance and give interest subsidies to all infrastructure commercial lenders.

It can be mandated to provide interest gap funding, to compensate banks for extending loans to infrastructure projects at a special interest rate; and to extend direct lending to infrastructure projects at a special interest rate.

This way the projects under implementation that have now become unviable due to increase in borrowing rates will continue to be on track, said a CII release.

More Stories on : Infrastructure | Industry Associations

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