Ahmedabad issues municipal bonds to implement green projects

A case study on the city of Ahmedabad's use of municipal bonds to finance climate-resilient urban development and green infrastructure.

• In January 2019, Ahmedabad, the largest municipal corporation in Gujarat, raised approximately $26.2 million through municipal bonds to fund green projects. These funds are intended for water supply, waste management, and infrastructure projects, specifically including the cleaning of the Sabarmati River.
• Green municipal bonds are effective for financing climate-resilient infrastructure because they support large-scale projects and can be issued with long tenors ranging from 10 to 20 years. Success in issuing these bonds is linked to a local government's strong governance, financial health, operational performance, and credit ratings.
• The Indian government and regulatory bodies have incentivized municipal bond issuance. The Securities and Exchange Board of India (SEBI) eased issuance rules and permitted investment from foreign portfolio investors, while the Atal Mission for Rejuvenation and Urban Transformation programme encourages local governments to use capital markets to improve financial performance and transparency.

APA

Climate and Development Knowledge Network (2020). Ahmedabad issues municipal bonds to implement green projects. https://cdkn.org/resource/ahmedabad-issues-municipal-bonds-to-implement-green-projects

Chicago

Climate and Development Knowledge Network. Ahmedabad issues municipal bonds to implement green projects. 2020. https://cdkn.org/resource/ahmedabad-issues-municipal-bonds-to-implement-green-projects.

Wikipedia

{{cite report |author=Climate and Development Knowledge Network |title=Ahmedabad issues municipal bonds to implement green projects |date=25 May 2020 |url=https://cdkn.org/resource/ahmedabad-issues-municipal-bonds-to-implement-green-projects |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{climateanddevelopmentknowledgenetwork2020ahmedabad, author = {{Climate and Development Knowledge Network}}, title = {{Ahmedabad issues municipal bonds to implement green projects}}, institution = {Climate and Development Knowledge Network}, year = {2020}, month = may, url = {https://cdkn.org/resource/ahmedabad-issues-municipal-bonds-to-implement-green-projects}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }