Home Projects

About the Project

About the project

The Indo-USAID programme on Financial Institutions Reform and Expansion (FIRE-D) for developing a long-term debt market for viable urban infrastructure projects was launched in 1994.  The programme envisages development of a viable urban infrastructure finance system that could support development of debt market in India by using the Housing Guarantee (HG) funds for contemplating the issuing of debt instruments to finance urban infrastructure projects. 

The USAID provided the HG funds of US $125 million for a period of 30 years to develop an urban infrastructure finance system.  HUDCO and IL&FS acted as the financial intermediaries to channel the funds along with a matching amount of locally raised funds to municipalities or private sector entities to finance selected commercially viable urban infrastructure projects relating to water supply, sewerage, solid waste management and area development.