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2w ago

MMRDA Secures ₹4.07 Lakh Crore in Credit Deals to Transform Mumbai Metropolitan Region

The historic financing agreements with five Indian institutions will accelerate infrastructure projects and support Maharashtra's economic goals.

Mumbai: Maharashtra Chief Minister Devendra Fadnavis and Deputy Chief Minister Eknath Shinde at the India Global Forum's 'IGF Mumbai NXT 25: Leading the Leap' event, in Mumbai, Tuesday, April 8, 2025. (PTI Photo)(PTI04_08_2025_000146B) (PTI)
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Overview

  • The Mumbai Metropolitan Region Development Authority (MMRDA) has secured non-binding Lines of Credit worth ₹4.07 lakh crore from five leading Indian financial institutions.
  • The financing, formalized during the India Global Forum 2025, represents one of the largest domestic infrastructure commitments in India's history.
  • Funds will be used for transport, housing, energy efficiency, multimodal connectivity, and smart urban services under a 20:80 equity-debt model to ensure financial sustainability.
  • This initiative aligns with Maharashtra's vision to become a USD 1 trillion economy and India's broader $5 trillion economic target by leveraging domestic financial partnerships.
  • The MMRDA aims to transform the region into a USD 300 billion economy by 2030, creating over 3 million jobs and positioning Mumbai as a global economic hub.