State-owned Housing & Urban Development Corporation Ltd (HUDCO) on Thursday said its board has approved the proposal to raise up to ₹22,000 crore through bonds and debentures to finance affordable housing and urban infrastructure projects.

The board of directors has approved the Annual Resource Plan of the company by raising funds through the issue of bonds/debentures, as may be permitted by regulatory authorities from time to time during FY23, up to a maximum of ₹22,000 crore.

HUDCO is a techno-financial institution engaged in the financing and promotion of housing and urban infrastructure projects across the country. It is under the administrative control of the Ministry of Housing and Urban Affairs.