Ahmedabad issues municipal bonds to implement green projects
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Date
2020-05
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Abstract
In 2019, Ahmedabad, the largest municipal corporation in the state of Gujarat, raised 200 crore Indian rupees (INR) ($26 million USD, 2020) for ‘green projects’ by issuing municipal bonds. This case study investigates the potential for local governments to raise funds for climate-resilient development and infrastructure through municipal bonds. Municipal bonds are debt securities issued to raise capital; in return, investors receive the principal amount with interest. Governments play an important role in incentivising fundraising through market-based financing instruments.
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FINANCIAL REGULATION, MUNICIPAL GOVERNMENT, INFRASTRUCTURE, CLIMATE CHANGE VULNERABILITY, CAPITAL FORMATION, URBAN PLANNING, INDIA, SOUTH ASIA