Explanation:

Recently, the Department of Economic Affairs (DEA), Ministry of Finance notified Scheme for Financial Support for Project Development Expenses of PPP Projects – India Infrastructure Project Development Fund Scheme (IIPDF Scheme).

What is it? 

• It is a Central Sector Scheme which will aid the development of quality PPP projects by providing necessary funding support to the project sponsoring authorities, both in the Central and State Governments.

Funding

• The corpus of the IIPDF shall comprise of initial budgetary outlay of Rs. 100 Crore by the Ministry of Finance. This would be supplemented, should it become necessary, through budgetary support by the Ministry of Finance from time to time.

• Funding under IIPDF Scheme is in addition to the already operational Scheme for Financial Support to PPPs in Infrastructure (VGF Scheme).

Organisational Structure: The IIPDF will be administered by the Empowered Institution. The Empowered Institution will:

• Select projects for which project development costs will be funded.

• Set the terms and conditions under which the funding will be provided and recovered.

• Set milestones for disbursing and recovering (where appropriate) the funding.

• The Public Private Partnership Cell of the DEA will provide support functions examine the applications received for assistance under IIPDF.

Hence only statement 1st is correct.