US, India join hands to work for Vadodara’s civic makeover

Back To Homepage Subscribe To RSS Feed

Breaking News

AYUSH’s ‘Swarna Prashan’ drive launched in Odisha’s tribal dominated Jharsuguda, Kalahandi districts 6,400 students in 15 schools to benefit; more than 10,600 students reached out till date By Payal Banarjee Bhubaneswar, Nov. 22: Union ministry of AYUSH in association with Vedanta Aluminium,...
Odisha: Government employee suspended for demanding bribe from cyclone victims Bhubaneswar, Nov. 21: A Village Agriculture Worker (VAW) from Bhatapada Panchayat, under Chandbali block in Odisha’s Bhadrak district, has been suspended for allegedly demanding bribes from farmers affected by Cyclone...
Odisha’s Singapore roadshow sparks global investment interest By A.K. Sahoo Bhubaneswar, Nov. 19: Odisha’s Chief Minister Mohan Charan Majhi led a successful investment roadshow in Singapore, presenting the state as a prime destination for global investors. The...
Odisha partners with Anil Agarwal Foundation to transform 500 Anganwadi Centers Nand Ghars: Modernised hubs for women and children’s holistic development By Swagatika Mohanty Bhubaneswar, Nov. 17: The Odisha government has entered into a memorandum of understanding (MoU) with the Anil...
‘Kalki Avatar’: FIR filed against father-son duo for allegedly misleading and exploiting people in Bhubaneswar Bhubaneswar, Nov. 16: A social organisation has lodged a First Information Report (FIR) against one Kashinath Mishra and his son at the Bharatpur police station in Bhubaneswar, accusing them of...

US, India join hands to work for Vadodara’s civic makeover

November 04

10:36 2022

Print This Article Share it With Friends

by indadmin

NEW DELHI, NOV 4: US Embassy and US Treasury officials have collaborated with India’s Ministry of Housing and Urban Development and Securities and Exchange Board of India (SEBI) to procure municipal bonds to develop the city of Vadodara.

“This is Vadodara’s first municipal bond that will provide funds for infrastructure in Vadodara. A written case study will also be published sharing lessons learned from Vadodara’s bond issuance that will benefit other Indian cities issuing their own municipal bonds in the future,’’ a statement from the US Embassy said.

Vadodara’s bond, which took place in March of this year, was oversubscribed by 10 times (`1,007 crore in bids received from 33 bidders) and was priced at a low yield of just 7.15 per cent. Vadodara is the second Indian city to issue a municipal bond with assistance from the US Treasury Department’s Office of Technical Assistance, following Pune’s bond issuance in 2017. Vadodara’s bond, which took place in March of this year, was oversubscribed by 10 times (Rs 1,007 crore in bids received from 33 bidders) and was priced at 7.15 per cent.

-TNIE