India's municipal bond issuance plans discussed at WUF13

India is considering involving another 100 cities in issuing municipal bonds.

Report informs that Sanjay Kulshrestha, Chairman and Managing Director of the Housing and Urban Development Corporation (HUDCO), said this during the panel discussion "Financeable Municipalities, Liveable Cities: How can cities attract long-term financing at the required scale?" held as part of the 13th session of the World Urban Forum (WUF13) in Baku.

He noted that 22 Indian cities have already issued municipal bonds.

"The total volume of issuances has reached around $1 billion. In the future, another 100 cities are planned to be involved in this process. The Indian government is purposefully supporting this initiative, but the main challenge is not so much attracting financial resources as developing cities' competencies in implementing projects, ensuring their profitability and building a high-quality governance system," he emphasized.