Hudco plans $1-B fund to finance metro rail projects

Housing and Urban Development Corporation Limited ( HUDCO ) is in discussions with multilateral banks to establish a pooled fund of at least USD 1 billion, specifically aimed at financing metro projects across India. The fund will be a blended solution comprising both foreign and domestic sources, including banks.The objective is to provide loans at competitive rates, comparable to those offered by multilateral institutions, while also minimizing hedging costs.