MMRDA signs ₹4.07 lakh crore credit deals at India Global Forum 2025 to boost Mumbai’s infrastructure | File Photo
Mumbai: In a historic move to supercharge infrastructure development in the Mumbai Metropolitan Region (MMR), the Mumbai Metropolitan Region Development Authority (MMRDA) has secured non-binding Lines of Credit (LoCs) worth a staggering Rs 4.07 lakh crore (approx. $48 billion) from five leading Indian financial institutions.
These landmark agreements were formalized during the India Global Forum 2025, marking a transformative step towards positioning MMR as a global hub for finance, innovation, and urban development.
The signing ceremony, held in the presence of MMRDA Additional Commissioner Vikram Kumar and representatives of premier financial institutions, represents one of the largest-ever domestic infrastructure financing commitments in India.
The five institutions—REC, PFC, HUDCO, IRFC, and NaBFID—have pledged long-term financial assistance to back MMRDA’s ambitious infrastructure blueprint, spanning transport, housing, energy efficiency, multimodal connectivity, and smart urban services.
These LoCs will empower MMRDA to implement bankable infrastructure projects under a 20:80 equity-debt model, ensuring financial sustainability while accelerating rollout. The initiative supports Maharashtra’s vision to become a USD 1 trillion economy and contribute significantly to India’s $5 trillion economic target.
According to an official, key benefits of the partnerships include fast-tracking the delivery of critical infrastructure projects such as metro lines, roads, rail networks, and urban housing, ensuring timely execution and reduced project delays.
These collaborations are expected to significantly boost economic growth by positioning the Mumbai Metropolitan Region as a premier destination for global investment and job creation.
Additionally, the partnerships emphasize the development of sustainable mobility solutions, affordable housing, and enhanced civic infrastructure, ultimately improving the overall quality of life for residents.
“The MMRDA has a strong track record of collaborating with public sector financial institutions. Prior funding support of over Rs 60,000 crore from REC and PFC has already been instrumental in metro and urban infrastructure development” said an official adding that MMRDA aims to transform MMR into a USD 300 billion economy by 2030 and generate over 3 million jobs, with the help of robust financial partnerships and strategic planning. The current LoCs—anchored by trusted Indian institutions—underscore growing confidence in India’s ability to deliver world-class infrastructure with homegrown strength and vision.
Speaking on the occasion Devendra Fadnavis said: “In February 2025, we set a goal to raise $100 billion for infrastructure transformation. Today, we’ve crossed nearly half that mark with $48 billion secured from domestic institutions. Our next milestone is to bring in the remaining $50 billion through global partnerships. This initiative lays a strong foundation for Maharashtra’s future as a global economic powerhouse.”
Deputy Chief Minister and MMRDA Chairman Eknath Shinde emphasized the significance of Swadeshi financing, “These Line of Credits from Indian institutions reflect our self-reliant vision—Aatmanirbhar Bharat. MMRDA is driving inclusive, infrastructure-led growth that sets new benchmarks for urban development. This move will fast-track projects, create jobs, and uplift quality of life across the region.”
Dr. Sanjay Mukherjee, IAS, Metropolitan Commissioner, MMRDA, added, “This is a pivotal moment for MMRDA—from planning to execution. These partnerships will strengthen our project pipeline and ensure we build integrated, climate-resilient, and globally competitive infrastructure that meets the aspirations of a modern India.
Details of the Lines of Credit
Housing and Urban Development Corporation (HUDCO):
Rs 1.5 lakh crore for affordable housing, urban development, and transport infrastructure.
Impact: Catalyzes inclusive urban growth through sustainable housing and civic amenities.
Rural Electrification Corporation (REC):
Rs 1 lakh crore for urban transport, integrated infrastructure, and energy efficiency projects.
Impact: Strengthens long-term financial capacity for critical infrastructure expansion.
Power Finance Corporation (PFC)
Rs 1 lakh crore to support sustainable transport and energy-efficient urban systems.
Impact: Bolsters structured financing for MMR’s green and resilient infrastructure.
Indian Railway Finance Corporation (IRFC)
Rs 50,000 crore for metro rail, suburban rail, and multimodal connectivity.
Impact: Enhances regional mobility and last-mile transit access.
National Bank for Financing Infrastructure and Development (NaBFID)
Rs 7,000 crore to support transport, smart city projects, and urban services.
Impact: Encourages innovation in infrastructure finance and futuristic urban planning.
