Ghaziabad Nagar Nigam has issued India’s first certified Green Municipal Bond, raising ₹150 crore ($18 million) to fund a high-tech sewage treatment plant to revolutionize urban water management in one of the country’s fastest-growing cities.
The funds will be used to build a tertiary sewage treatment plant that will treat 40 million litres of wastewater per day using advanced membrane filtration technologies such as microfiltration, ultrafiltration, nanofiltration and reverse osmosis.
The treated water will be supplied via a 95-kilometre pipeline to more than 1,400 industrial units in the region, reducing reliance on freshwater sources.
“This isn’t just another infrastructure project — it is a game-changer that reflects Ghaziabad’s commitment to creating a sustainable future for its citizens,” the Ministry of Housing and Urban Affairs said in a statement.
Innovative Financing and Environmental Impact Draw Recognition
The bond was issued under the Swachh Bharat Mission-Urban and certified as a green bond, signaling compliance with international standards on environmental impact.
Backed by the state and the central governments, the project was developed under a public-private hybrid annuity model, with the municipality contributing 40 percent of the total funding.
The financial model and environmental vision have attracted attention from both investors and international observers.
Ghaziabad Nagar Nigam signed agreements with over 800 firms to supply 9.5 million liters of treated water daily and recently received the Best Municipal Treated Water Reuse Award at the Water Digest World Water Awards 2024–25.
As part of an international outreach, a delegation from West Suffolk College, England—comprising 22 students and four faculty members—visited the facility this month to study Ghaziabad’s sustainable development initiatives.
With the launch of this project and India’s first certified green urban bond, Ghaziabad is positioning itself as a model for integrating climate action, smart city planning, and responsible financing in urban development.
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