Vadodara Civic Body to Raise Rs 200 Crore via Blue Bonds

The Vadodara Municipal Corporation is gearing up to secure an additional Rs 200 crore by issuing blue bonds by July, sources have informed PTI. The corporation has already obtained the necessary approvals from relevant authorities for this bond issuance.

According to insiders, the blue bonds, which are typically used to fund water management and marine-related projects, are likely to benefit from incentives akin to those for green bonds. The bond credit rating process is currently in progress and expected to conclude in the upcoming weeks.

In previous efforts, the corporation successfully amassed Rs 100 crore through municipal bonds in 2022 and a further Rs 100 crore via green bonds in 2024. Current bond efforts come in a fiscal backdrop of a Rs 1,619.60 crore revenue income, a slight decrease from the previous year’s Rs 1,644.59 crore.