2.1 The Viability Gap Financing (VGF) is meant for projects where financial viability is not ensured but their economic and social viability is high. VGF could be in the form of capital grant or annuity payment or in both forms.
2.2 VGF in the form of capital grant shall be disbursed during the construction phase of the PPP Project only after the private sector company has subscribed and expended the equity contribution required for the project.
2.3 VGF in the form of annuity shall be disbursed on a periodic basis (i. e. monthly, quarterly, half yearly, yearly etc) during the period wherein the private sector company provides service under the PPP Project after the commencement of operation.