India Allocates US$10.8 Billion Under Urban Challenge Fund to Accelerate City Projects
- brg_news_room
- 3 days ago
- 1 min read
INDIA: India has launched a major urban infrastructure push under its Urban Challenge Fund (UCF), with ₹900 billion (US$10.5 billion) of the ₹1 trillion (US$11.7 billion) fund earmarked to partially finance around 60 categories of city projects. These include infrastructure upgrades, old city revitalization, market redevelopment, flood prevention, waste recycling, and multi-level parking.
Housing and Urban Development Minister Manohar Lal Khattar said funding will begin flowing to cities within six months. The government also launched a ₹50 billion (US$585 million) Credit Repayment Guarantee Sub-Scheme to support urban local bodies raising loans for UCF projects. The broader program targets total investment of ₹4 trillion (US$46.8 billion) through FY2031, with half the funding expected from bonds, loans, and private participation.
Source: Times of India
