Technical Assistance for Government Debt & Infrastructure Finance - India IFT 02

The goal of this project is to increase capital market access for Indian municipalities to allow them to fund infrastructure, spur economic development, and meet critical development needs.

Project activities will assist the Designated Municipalities (including Pimpri Chinchwad, Mysuru, Mangaluru, Rajkot, Vadodara, and Faridabad) to develop, issue, and manage municipal bonds by 1) Assessing the Designated Municipalities' credit ratings and capacity to issue and repay municipal bonds; 2) Developing the necessary bond documents and cashflow structures, and hiring legal and advisory expertise for the issuance of bonds; 3) Recommending pre-issuance improvements, as needed, to facilitate the issuance of bonds; 4) Assisting Designated Municipalities to issue bonds under the Securities Exchange Board of India (SEBI) guidelines on the Bombay Stock Exchange (BSE); and 5) Increasing transparency and investor confidence by establishing continuing disclosure frameworks for disclosure through the life of the bond.