Gujarat’s Vadodara Municipal Corporation has raised Rs 100 crore by issuing Asia’s first certified green municipal bond.
- The civic body from Gujarat has set a semi-annual coupon of 7.90 per cent on the issue, for which it invited bids from investors earlier in the day.
- The proceeds will be used to build wastewater management infrastructure across the city.
- Aimed at fostering sustainable urban development aligned with the Paris Agreement, the bond is dedicated to enhancing liquid wastewater management infrastructure across Vadodara.
- The Green Municipal Bond has been certified by Climate Bond Initiative.
- The Climate Bonds Initiative is a global not-for-profit organisation working to mobilise global capital for climate action.
