In the Budget speech of 2008-09, the Finance Minister announced that massive investments were required to be made in Irrigation Projects and hence Irrigation and Water Resources Finance Corporation (IWRFC) was established with an initial capital of Rs.100 Crores, contributed by the Central Government on March 29, 2008 as a Company under the Companies Act, 1956. The intention was to mobilize the very large resources that will be required to fund major and medium Irrigation Projects.
Subsequently in the Budget speech of 2012-13, the Finance Minister announced that the Company would start its operations in 2012-13 by focusing on financing sub-sectors like micro-irrigation, contract farming, waste water management and sanitation.
The Company commenced its operations in the financial year 2012-13.Further The Government accorded its approval on 13-12-2013 for making IWRFC a 100% subsidiary of India Infrastructure Finance Company Limited (IIFCL) a specialised NBFC-IFC Company wholly owned by Government of India.
IWRFC Board fo Director (83 KB)