Canada’s Cooperation in Housing and Infrastructure Development to Benefit Maharashtra: CM Devendra Fadnavis

Mumbai, Feb 2026 : Canada has expressed keen interest in contributing to Maharashtra’s development. The cooperation will begin with investments in two major projects in the housing and infrastructure sectors through the participation of the Canada Infrastructure Bank. With Canada’s financial and technical support, infrastructure development in Maharashtra will gain fresh momentum, said Chief Minister Devendra Fadnavis.

The Chief Minister interacted via video conferencing with Dr. Sebastian, Chief Executive Officer of the Canada Infrastructure Bank, from his official residence Varsha. Senior officials present included Additional Chief Secretary (Finance and Planning) O. P. Gupta, Additional Chief Secretary (Transport) Sanjay Sethi, Additional Chief Secretary (Public Works) Milind Mhaisakar, Additional Chief Secretary (Agriculture) Vikaschandra Rastogi, Additional Chief Secretary (Urban Development) Asim Gupta, MMRDA Metropolitan Commissioner Dr. Sanjay Mukherjee, BMC Commissioner Bhushan Gagrani, CIDCO Managing Director Vijay Singhal, Chief Economic and Investment Advisor to the Chief Minister Kaustubh Dhavse, along with Ajinkya Deo and Atul Gupta.

On this occasion, a detailed presentation covering eight key aspects related to investments by the Canada Infrastructure Bank was made.

Chief Minister Fadnavis said that several infrastructure development projects are underway in the State and that Maharashtra is keen to leverage international cooperation for their successful implementation. He noted that such collaboration would be particularly beneficial for key initiatives of MHADA and the Mumbai Metropolitan Region Development Authority (MMRDA). In the initial phase, two projects will be identified and discussions will be held from a partnership perspective, he added.

Dr. Sebastian assured that a combination of technical and financial solutions would be implemented for infrastructure development in Maharashtra through Canada’s financing ecosystem. He also committed to providing high-quality, ‘triple-A’ rated credibility, including support through G-20 off-take mechanisms, wherever required.

Key Features of Infrastructure Investment Cooperation

Funding Regulation in Indian Rupees:
Provision will be made for investment in local currency, with reinvestment of funds within the host country itself. This will eliminate the risk of fund repatriation and remove the need for hedging or swap mechanisms.

One-Stop Solution:
A comprehensive one-stop solution will be made available through a secure, encrypted, web-based online platform, connecting industries, resources, networks and State Government systems for Canada-linked projects.

Turnkey Project Implementation:
For projects undertaken by the State Government or local self-government bodies, arrangements will be made for assured funding availability, long-term repayment tenures and risk mitigation through insurance cover.

Technical Cooperation:
Canada will provide technical support in key project management, implementation and monitoring processes. Projects will be executed effectively through the participation of local partners, ensuring efficiency and global best practices.