News Brief
MMRDA Secures Rs 4.07 Lakh Crore In Credit From Indian Institutions To Fund Mumbai Region Infrastructure Push
(Photo Source: MMRDA)
The Mumbai Metropolitan Region Development Authority (MMRDA) has signed non-binding lines of credit worth Rs 4.07 lakh crore (approximately $48 billion) with several top Indian financial institutions, Economic Times reported.
The partner financing institutions include Rural Electrification Corporation (REC), Power Finance Corporation (PFC), Housing and Urban Development Corporation (HUDCO), Indian Railway Finance Corporation (IRFC), and the National Bank for Financing Infrastructure and Development (NaBFID).
These long-term credit lines are set to power transformative projects in transport, housing, energy, and smart urban services.
Chief Minister Devendra Fadnavis hailed the development as a major milestone.
“In February 2025, we set an ambitious target of raising $100 billion to fund transformative infrastructure projects. As we work to position Mumbai and Maharashtra as a global destination, world-class infrastructure backed by long-term, low-cost funding is essential. Today, we’ve taken the first major step by closing almost $50 billion in funding from Indian institutions,” he said.
HUDCO has extended Rs 1.5 lakh crore to support affordable housing and urban amenities, while both REC and PFC have committed Rs 1 lakh crore each toward energy-efficient transport and integrated infrastructure.
IRFC will contribute Rs 50,000 crore towards metro and suburban rail connectivity, and NaBFID will provide Rs 7,000 crore to boost innovation-driven development.
These funds will be used under a 20:80 equity-debt model, allowing MMRDA to execute large-scale, bankable projects with speed and financial discipline.
The Authority aims to transform MMR into a $300 billion economy by 2030, generating over 3 million jobs and contributing to Maharashtra’s $1 trillion and India’s $5 trillion economic vision.
