Kerala Road Fund Board, established in 2001 by the Government of Kerala, is a funding agency for providing financial assistance to the transport facility projects in the state, Kerala Road Fund Board plays a pivotal role in the overall infrastructure development of Kerala. Requirement of a professional and statutory body to take up the fund management of Kerala State Public Works Department has given shape to the Kerala Road Fund Board (KRFB). Constituted primarily to oversee and manage non-budgetary funds and to organise such funds for developing and maintaining roads and other related infrastructure.
For mobilizing greater non-budgetary resources with the help of greater private sector partnership, the KRFB is entrusted with the responsibility of implementing developmental activities like:
- Managing the fund, monitoring and supervising the activities financed for road development
- Promoting Public Private Sector participation in infrastructural projects
- Funding feasibility studies for innovative road projects
- Constructing new roads wherever necessary
- Implementing Road Safety projects and campaigns for the safe and smooth movement of traffic
- Funding Research related to maintenance and development of roads
- Developing existing road network systems including upgrading roads maintained by the PWD
- Implementing futuristic projects like Rapid Transit Systems and Metro Rail Projects in Cities
- To raise funds by borrowing money necessary for the due discharge of its functions
KRFB considers themselves as the agency who helps to identify and promote effective measures of Kerala Roads on the basis of scientific research. Also work in areas which offer the greatest potential for a reduction in transport crashes and casualties and thereby ensure the safety of the public.