All banks should fund infrastructure projects: N. Yogish Bhat

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MANGLORE: “Corporate and public sector banks should have a focused approach towards funding infrastructure development projects that benefit local economies,” said N. Yogish Bhat, Deputy Speaker of Karnataka Legislative Assembly at Vijaya Bank Founder’s Day celebrations here on Sunday. “Such investments can be made as part of corporate social responsibility (CSR). It will yield long term returns to investors and also help fund vital infrastructure projects,” he added.

Citing the example of public-private partnership that helped meet infrastructure needs of Calicut Airport, Bhat said banks in Karnataka, including Vijaya Bank, should think on those lines. “Extension of runway at Mangalore Airport, to enable the operations of wide-bodied jets, is hanging fire over cost involved,” he said.

Both Mangalore and Calicut airports are in a race against time to acquire the international airport tag and Union civil aviation ministry will be disinclined to give the tag to both the airports as they are within a distance of 150 km. “If private funding can help speed up the process of extending runway here, it will brighten the chances of the airport and it will help spur the development of the region,” he said.

K N Vijayaprakash, CEO, DKZP said the district despite its second rank in terms of human development index could do much more with CSR funding. “The district needs to tap the vast potential available in health, religious and beach tourism and all this can be achieved through PPP mode,” he said.

(Times News Network)

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