HUDCO Signs MoU With Bihar to Provide Up to Rs 1 Lakh Crore for Urban Infrastructure Projects

Housing and Urban Development Corporation (HUDCO) has signed a memorandum of understanding (MoU) with the Bihar government to provide loans of up to Rs 1 lakh crore over the next five years for urban infrastructure development, marking one of the country's largest state-level infrastructure financing agreements.

Under the agreement, HUDCO will extend the financing in phases to the state's statutory authorities for the development of urban infrastructure projects, including land acquisition.

The MoU also enables HUDCO to collaborate with the Bihar government in planning, developing and financing greenfield satellite cities as part of the state's urban expansion strategy.

The loans will be disbursed in tranches over a five-year period, with a flexible repayment tenure of up to 25 years.

The financing is expected to support the creation of urban infrastructure and facilitate planned urbanisation across Bihar through long-term funding for key development projects.