Page 7 - NEWSLETTER OCT to DEC 2023 Vol57

Business Development Meeting of CMD & DCP

with Karnataka State Govt. Officials

Meeting with Shri DK Shivakumar, Hon’ble Deputy Shri Atheeq IAS, Additional Chief Secretary- Finance /
Chief Minister, Govt. of Karnataka. Additional Chief Secretary to CM

• CMD explained HUDCO’s role in financing various • Additional Chief Secretary suggested HUDCO to
housing and urban development activities throughout evaluate various means of off-budget borrowing and
the country and its funding to Karnataka State in the Direct-Debit Mechanism (DDM) and directed to contact
past and extended support to finance various Dr. Vishal, IAS and Mr Nitesh IAS for further discussions.
developmental works.
Meeting with Shri R. Nagaraja, Director Finance, KPCL
• Dy. CM assured to direct all concerned to avail financial
assistance from HUDCO. • Discussed about the newly sanctioned scheme and
requested to execute the loan agreement and furnish
Meeting with Shri Rakesh Singh, IAS, Additional Chief
the default Escrow agreement to ensure HUDCO’s
Secretary - Urban Development & Water Resources /
disbursement at the earliest and following issues were
Chairman-BDA / Administrator-BBMP
discussed:
• CMD explained HUDCOs’ willingness to tailor made
a) Default escrow mechanism – DF has confirmed that
financial products as per the requirements both for
long term and short term needs. Wherever multilateral the issue has taken up with the Canara Bank and
funding is proposed, CMD offered short term loans to the same will be submitted within 2 weeks
expedite progress before the release of multilateral b) Govt. Guarantee – DF has assured to present GG
funding. and letter of commitment from Dept of Energy at
• Additional Chief Secretary has sought the support of the earliest
HUDCO for financing Land Acquisition for Peripheral c) Levy of 1% risk charges – DF has requested for
Ring Road (BDA) and Drinking Water Supply Scheme waiver of charges up to 3 months in line of REC
(Yettinahole) of VJNL.
and PFC
• Additional Chief Secretary suggested for a meeting
d) DF-KPCL has assured to draw the entire amount
would be arranged at Delhi with Dy. CM, GoK based on
within current financial year and assured to furnish
the discussions held during the day to take up the
loan drawal schedule
proposals further.

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