14 NOV,2022 | MEDC
The Finance Ministry, in coordination with RBI, multilateral institutions and other stakeholders is finally ready with the framework to proceed with its maiden issuance of green bonds worth Rs. 16,000 crore. The framework is expected to cover the funding of green and sustainable infrastructure across most modes of public transportation, agriculture and social sectors, apart from renewable energy projects like solar and wind. It is a step in the right direction. With this, India will join an exclusive club of just 25 nations that have issued such bonds to fund climate sustainability and green infrastructure initiatives. As per global norms, the yields on green bonds are slightly lower than the benchmark rate – at around 10 to 15%. But, ultimately, the success of such ventures oftendepends simply on the strengthening of governance and an improved structure for market institutions.
*Picture credit : Google
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