The Hindu Business Line : Hudco to help set up mirror model in Afghanistan

The role
Hudco's role will be to help set up the entity and also train people who can run it.
In the first phase, the focus would be on reconstruction activities, which could later be extended to regular development opportunities.

New Delhi , June 11

Housing and Urban Development Corporation Ltd (Hudco) is lending a helping hand to the Afghanistan Government to set up an organisation based on its own model.

The proposed organisation is expected to offer techno- financial assistance for housing and urban infrastructure projects in the war-ravaged nation.

"A team of four senior Hudco officials recently visited Afghanistan to see how we can help them in setting up such an entity. The delegation included the Director (Finance), Chief Finance, Chief Law and Executive Director (Training). We are currently working out the modalities," the Hudco Chairman and Managing Director, Dr P.S. Rana, told Business Line.

Based on the discussions, two more experts would visit Afghanistan in the coming months at a "mutually agreed timing", to help with the technical and legal aspects of setting up an organisation on Hudco model, he said. "We will be sending a law expert and a financial expert. Later we may also send a technical expert to Afghanistan. Hudco's role will be to help them with regard to setting up of the entity and also training of people who can run it," he said, but pointed out that no financial assistance would be involved.

In the first phase, the focus would be on reconstruction activities and later to regular development opportunities, Dr Rana said.

Hudco is eyeing a target of up to Rs 11,000 crore for loan sanction for housing and infrastructure projects, and about Rs 6,000 crore in disbursements this year. "Currently , Hudco's assistance covers housing needs of various income categories of the society with special thrust on the economically weaker sections and low income groups.

More Stories on : Housing Finance | Infrastructure

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Challenges before new US Treasury Secretary

Reaching rural areas through technology

Hudco to help set up mirror model in Afghanistan

Bonds down on FIIs exit, inflationary concerns

Andhra Bank mobilisation drive

Shamrao Vithal eyes three more buys this fiscal

`Corporation Bank will emerge as one-stop financial shop in 20 months'

RBI norms force banks to keep off venture funds