Archive · 5 Jun 2025
PCMC Raises Funds via Green Bonds for Sustainable Projects
Imagine a city, PCMC, wanting to build cool, eco-friendly projects.
To pay for them, they sold special bonds, like IOUs, to investors who want to support green initiatives.
They aimed to collect 100 crore, but the offer was so popular, they got more than 500 crore in bids!
This money will be used for projects like the Harit Setu, a bridge designed for easy travel and Telco Road's renovation.
The government is also offering them extra money to help with their plans.
PCMC is the first civic body in Maharashtra to raise funds via green municipal bonds.
The corporation raised Rs200 crore, attracting bids worth Rs513 crore.
Funds will support the Harit Setu project and Telco Road redevelopment.
The bonds were issued at a competitive interest rate of 7.85% for a five-year term.
PCMC may receive an additional Rs20 crore grant from the central government.
- Who
- Pimpri Chinchwad Municipal Corporation (PCMC)
- What
- PCMC raised Rs200 crore through green municipal bonds.
- When
- The bonds were issued recently, with the proposal approved in July 2023 and state government nod in February.
- Where
- Pimpri Chinchwad, Maharashtra
- Why
- To fund green infrastructure projects and promote sustainable urban development.
- Funds Raised
- Rs200 crore
- Bids Received
- 5.13 times
- Interest Rate
- 7.85%
- Tenure
- 5 years
- Credit Rating
- AA+ Stable