Home » Business » Odisha Govt & IFC signed an MoU to support in the implementation of the Asset Monetization

Odisha Govt & IFC signed an MoU to support in the implementation of the Asset Monetization

Bhubaneswar: 21/7/22:The government of Odisha’s Industries Department and IFC, a member of the World Bank Group today signed an MoU to support in the implementation of the Asset Monetization & Recycling Program (AMRP) for the state.

This Program is a part of a wider World Bank Group Technical Assistance to support the state in monetizing existing public sector assets and enhance the state’s economic growth.

The Program will facilitate and accelerate the monetization process in the state by unlocking the value from large scale public investment in the brownfield infrastructure assets and bringing in private sector efficiencies.

IFC will support the state in screening and developing a prioritized list of monetizable brownfield state-owned assets for select sectors that can be further screened to identify and define bankable pilot projects that may be taken to market for attracting private sector investments that can eventually be used for demonstrating the benefits of brownfield-asset monetization and upgrading state’s infrastructure facilities.

Globally, developing countries have been adopting various forms of Asset Monetization and Asset Recycling approach to generate funds for their economies. India’s infrastructure development pipeline has an estimated funding requirement of $1.5 trillion until 2025.

To address this issue and to boost the economy, the Government of India (Gol) rolled out the National Monetization Pipeline (NMP). States are also looking at this opportunity and projects in power transmission, energy generation (including renewable energy and large hydro storage projects), highways and transport related land infrastructure assets, warehousing, etc. are on the list of pilot projects.“With the impact of economic shocks limiting fiscal space in many countries, the need for innovation to fund the infrastructure gap, particularly through crowding in private investments, is all the more crucial,” said IFC’s India Country Head, Wendy Werner.

Bhupendra Singh Poonia, MD IPICOL and Additional Secretary, Industries Department on behalf of the State Government and Roshika Singh, Senior Country Officer, IFC, signed the MoU in presence of Chief Secretary and other senior State Government Officials.

About Editor in chief

Ashok Palit has completed his graduation from Upendranath College Soro, Balasore and post graduation from Utkal University in Odia Language and literture.. He has also carved out a niche for himself as a scribe of eminence after joining the profession in 1988. He is also an independent media production professional. He brings loads of experience to Advanced Media, Ashok Palit as a cineaste has been active in film criticism for over three decades. As a film society activist, he soared to eminence for his profound commitment to the art film appreciation and aesthetics of cinema. His mode of discourse is often erudite but always lucid and comprehensible marked by a perfect acumen so rare in the field. A film aesthete with an immense fond of critical sensibilities, he wrote about growth and development of odia cinema in New Indian Express, The Times of India, The Hindustan Times, The Asian Age and Screen. He has been working as an Editor for Cine Samaya from 2002-2004.. He had made solid contribution on cinema in many odia Dailies and weekly such as Samaj, Prajatantra, Dharatri, Samaya, Satabadi, and weekly Samaya.
x

Check Also

The Ministry of Social Justice & Empowerment has allocated a total budget of Rs.100 crore for the SMILE scheme for coming years till 2025-26

Newdelhi:12/8/22:In the spirit ofAzadikaAmritMahotsav, the Ministry of Social Justice & Empowerment, Government of India, has identified 75 Municipal Corporations to implement comprehensive rehabilitation of persons engaged in the act of ...