Hudco plans $1 billion pooled fund to finance metro projects: CMD

Housing and Urban Development Corporation Limited (HUDCO) is in talks with multilateral banks to create at least $1 billion pooled fund to finance metro projects in the country.

Hudco chairman and managing director Sanjay Kulshrestha said the ‘navratna’ will be taking care of minimising hedging costs for this fund. “It will become a blended solution,” Kulshrestha told ET, explaining this pool will have funds from a mix of foreign and domestic sources, including banks. “The aim is to offer loans at rates comparable to multilateral institutions.”