Vadodara Corporation Shares Green Bond Experience at International Training

Vadodara Municipal Corporation attended an international training program in Incheon, South Korea, organized by the United Nations Office for Disaster Risk Reduction and the Climate Bonds Initiative. VMC showcased its experience in raising funds through municipal bonds, including issuing Asia’s first globally certified green municipal bond by an urban local body. The corporation plans to issue a blue resilience bond to finance improvements in its water infrastructure.

The event highlighted VMC’s successful use of innovative financing methods, such as municipal and green bonds, for urban development and climate resilience. VMC detailed its journey from conventional municipal bonds to green bonds, noting the record subscription and lowest interest rate achieved in the history of Indian municipal bonds.