Mumbai's Evolution: Major Financial Boost for Infrastructure Development

The Mumbai Metropolitan Region Development Authority (MMRDA) has secured lines of credit worth Rs 4.07 lakh crore to boost infrastructure across the region. These agreements with key financial institutions aim to support metro rail, housing, and smart urban services, aligning with Maharashtra's goal of a USD 1 trillion economy.

The Mumbai Metropolitan Region Development Authority (MMRDA) has taken a significant leap in transforming the region's infrastructure. On Tuesday, MMRDA secured non-binding lines of credit worth Rs 4.07 lakh crore (around USD 47.4 billion) from leading Indian financial institutions.

The strategic agreements were finalized at the India Global Forum 2025, with major financial players like the Housing and Urban Development Corporation (HUDCO) and the Indian Railway Finance Corporation (IRFC). The funding focuses on crucial areas, including metro rail expansion, housing development, and smart urban services.

Chief Minister Devendra Fadnavis emphasized this as a pivotal step towards Maharashtra's ambitious USD 1 trillion economy goal. The comprehensive funding plan is expected to support key projects with a 20:80 equity-debt model, reinforcing Maharashtra's infrastructure roadmap.

(With inputs from agencies.)