COMMENTARY
INTERVIEWS
SPECIALS
CHAT
ARCHIVES
SEARCH REDIFF

HUDCO, USAID in pact for infrastructure projects in India

C K Arora in Washington

The Housing and Urban Development Corporation Limited or HUDCO has signed an agreement with the US Agency for International Development or USAID to raise $ 10 million from the US capital markets for lending for urban infrastructure projects.

The agreement was signed on Tuesday by V Suresh, chairman and managing director, HUDCO and Earl Kessler, acting director, USAID.

This is a follow-up of an MoU, which was signed in 1995 for the development of debt market in India for municipal finance between India and the USA.

The money raised will be used in projects relating to water supply and energy recovery from waste in Nagpur and setting up of two severage treatment plants in Surat.

UNI

Business news