MMRDA signs Rs 4.07 lakh crore funding deals for infra projects in MMR

The Mumbai Metropolitan Region Development Authority MMRDA has signed Rs 407 lakh crore funding deals for infrastructure development projects in Mumbai Metropolitan Region MMR an official statement said on TuesdayIt said that the MMRDA on Tuesday secured nonbinding lines of credit worth Rs 407 lakh crore approximately USD 48 billion from leading Indian financial institutionsThe step aims to accelerate infrastructure development in the Mumbai Metropolitan Region MMR and transform it into a global urban and financial hub it saidAccording to the official statement the credit lines were signed during the India Global Forum 2025 under the leadership of Maharashtra Chief Minister Devendra Fadnavis Deputy Chief Minister and MMRDA Chairman Eknath Shinde and Metropolitan Commissioner Dr Sanjay MukherjeeKey financial institutions including REC PFC HUDCO IRFC and NaBFID have pledged longterm financial assistance to fund crucial infrastructure projects across the region the statement saidIt further said that the partnerships will support a wide range of MMRDA projects including as transport systems affordable housing energyefficient solutions multimodal connectivity and smart urban services The funding is in line with Maharashtras goal of becoming a USD 1 trillion economy and contributing to Indiarsquos ambition of reaching a USD 5 trillion economyThe partnerships will empower MMRDA to execute bankable projects with a 2080 equitydebt model accelerating infrastructure rollout while ensuring financial sustainability it saidDr Sanjay Mukherjee Metropolitan Commissioner MMRDA said MMRDArsquos collaboration with leading Indian financial institutions reinforces our strategy of building resilient and futureready infrastructure through robust and innovative financing mechanisms These Line of credits will significantly strengthen our project pipeline and help us deliver on the vision of a sustainable inclusive and globally competitive Mumbai Metropolitan Region This moment marks a pivotal shiftmdashfrom planning to accelerated execution With these partnerships we are confident of delivering integrated peoplecentric infrastructure that meets the aspirations of a modern IndiaSigned lines of credit Housing and Urban Development Corporation HUDCOLine of Credit Rs 15 lakh croreScope Financing of housing transport and urban development projects across MMRImpact Supports integrated development of affordable housing and urban amenities enabling sustainable and inclusive urban transformation Rural Electrification Corporation RECLine of Credit Rs 1 lakh croreScope Funding across sectors including urban transport energy efficiency and integrated infrastructureImpact Enhances financial capacity for longterm infrastructure projects in the region Power Finance Corporation PFCLine of Credit Rs 1 lakh croreScope Focused on energyefficient infrastructure sustainable transport and urban servicesImpact Provides structured longterm financing for key urban transformation initiativesIndian Railway Finance Corporation IRFCCommitment Rs 50000 croreScope Development of metro suburban rail multimodal transport and connectivity infrastructureImpact Strengthens regional mobility enabling seamless lastmile connectivity and enhanced transit systemsNational Bank for Financing Infrastructure and Development NaBFIDCommitment Rs 7000 croreScope Financing diverse infrastructure projects including transport smart infrastructure and urban servicesImpact Promotes innovation in infrastructure financing and fosters resilient futureready developmentCM Fadnavis said ldquoWe have made a monumental leap by securing nearly USD 50 billion from Indian financial institutions This will set the foundation for our ambitious plans to develop worldclass infrastructure in Mumbai and Maharashtra We aim to raise the remaining USD 50 billion from global institutions to ensure longterm financial stability for Maharashtrarsquos futurerdquoDeputy Chief Minister Eknath Shinde termed it as an another step towards Indiarsquos commitment to building worldclass infrastructureHe said ldquoThis is a remarkable achievement reflecting Indiarsquos commitment to building worldclass infrastructure with the strength and innovation of our public sector institutions These credit lines will accelerate critical projects enhance connectivity create jobs and improve quality of life across the regionrdquoatOptionskeyd0ddb8ef8f1a62a8cdd22fac27fc5ea7formatiframeheight90width728params