Ghaziabad has become 10th city in India and second city in Uttar Pradesh to raise Municipal Bonds of Rs 150 crore for construction of a tertiary sewage treatment plant.
- This is the first green bond, meant for environmentally sustainable projects of wastewater reuse.
- Raising Bond is an instrument for paradigm change in urban governance. It makes cities clean up their governance and financial systems.
- The coupon rate of 8.10 per cent is the most competitive rate so far for Municipal Bonds in India.
- Nine more cities have raised municipal bonds recently. These are Pune, Hyderabad, Indore, Amravati, Bhopal, Visakhapatnam, Ahmedabad, Surat and Lucknow.
