Latest News | DEA, MoHUA and World Bank Organise a 5-day Cities Creditworthiness Academy Workshop
Get latest articles and stories on Latest News at LatestLY. To create an enabling ecosystem for financing future cities of India, the ministries of finance and housing & urban affairs and the World Bank Group are jointly organising a five-day workshop.
New Delhi, Nov 14 (PTI) To create an enabling ecosystem for financing future cities of India, the ministries of finance and housing & urban affairs and the World Bank Group are jointly organising a five-day workshop.
The workshop titled Cities Creditworthiness Academy started on Monday and will conclude on November 18, the Department of Economic Affairs (DEA) said in a statement.
Also Read | France Squad for FIFA World Cup 2022 in Qatar: Team FRA Schedule & Players to Watch Out For in Football WC.
The workshop was inaugurated by Ajay Seth Secretary, DEA, Manoj Joshi, Secretary, Ministry of Housing & Urban Affairs (MoHUA); Country Director, World Bank (WB), India, and over 150 senior officials from the Central Government, State Governments and Municipal Corporations representing urban infrastructure departments.
While delivering the inaugural address, Seth emphasised on the three binding constraints of urban infrastructure financing in the country, namely Energy, Up-skilling, and Urbanization.
Seth also suggested that projects must be financed through a mix of ratepayer-taxpayer model for most efficient utilisation of funds.
Finance Secretary and Secretary Expenditure, T V Somanathan touched upon the topic of urban financing as a whole that includes both own revenues as well as borrowing from market.
He also emphasised that ULBs need to focus on augmenting their own revenues as a precursor to targeting additional moneys from bond market.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)