Rs 4 Lakh Crore Loan for Mumbai Infrastructure Boost

Mumbai, Apr 8 (PTI) The Mumbai Metropolitan Region Development Authority (MMRDA) on Tuesday signed non-binding lines of credit worth Rs 4.07 lakh crore (approximately USD 47.4 billion) with leading Indian financial institutions to accelerate infrastructure development across the Mumbai Metropolitan Region (MMR).
The agreements were signed with financial institutions such as the Housing and Urban Development Corporation (HUDCO), Rural Electrification Corporation (REC), Power Finance Corporation (PFC), Indian Railway Finance Corporation (IRFC) and National Bank for Financing Infrastructure and Development (NaBFID) on the sidelines of the India Global Forum 2025.
In a release issued here, MMRDA, an agency of the Maharashtra government, said it aimed to provide long-term financial assistance for a range of infrastructure initiatives including metro rail, housing, energy-efficient systems, multimodal transport and smart urban services.
As per the release, the lines of credit included Rs 1.5 lakh crore from HUDCO, Rs 1 lakh crore each from REC and PFC, Rs 50,000 crore from IRFC, and Rs 7,000 crore from NaBFID.

These partnerships will help MMRDA to execute bankable projects with a 20:80 equity-debt model, it said.

"These funds will be utilized for the timely execution of critical projects aligned with Maharashtra's ambition of becoming a USD 1 trillion economy and contributing to India's USD 5 trillion economic vision," the release said.
Chief Minister Devendra Fadnavis termed the funding a "major step" towards achieving Maharashtra's target of raising USD 100 billion for infrastructure projects. "We have already secured nearly USD 50 billion from Indian institutions. Our next focus is to raise the remaining from global players," Fadnavis was quoted as saying in the release.
The release highlighted that the institutions like the Rural Electrification Corporation (REC) and Power Finance Corporation (PFC) have already provided significant support, with existing funding commitments of Rs 30,593 crore and Rs 31,563 crore respectively, primarily toward metro and critical urban infrastructure projects.