Mumbai BMC Seeks Alternate Financing for Mega Projects Amid ₹2 Lakh Crore Liabilities

The Mumbai Municipal Corporation is seeking alternate financing mechanisms to fund its major infrastructure projects as it grapples with over ₹2 lakh crore in committed liabilities. On Tuesday, the BMC invited tenders to appoint a Project Implementing Agency (PIA) to mobilise funds and advise on financial strategy, debt management and institutional coordination.

The appointed agency will prepare a Capital Investment Plan and Debt Management Policy, helping the BMC raise funds through various instruments including municipal bonds, green bonds and sustainability-linked bonds. It will also identify projects eligible for financing, structure them and secure long-term capital at competitive rates.

The move comes as several major projects, including the Mumbai Coastal Road–North, Goregaon-Mulund Link Road twin tunnels and sewage treatment plant upgrades, are underway. The financial strategy will focus on capital markets, climate finance, development finance and government support schemes.