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Ghaziabad issues India’s first municipal green bonds

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Ghaziabad Nagar Nigam (GNN) has announced successfully raising and listing India’s first Green Municipal bond issue. GNN raised ₹150 crores at a cost of 8.1 per cent. Money will be used to clean up dirty water by setting up a tertiary water treatment plant and supply piped water through water meters to places like Sahibabad. Ghaziabad is debt-free and has maintained a revenue surplus position in the last few years, according to India Ratings.

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