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Nashik Civic Body to Raise ₹1,400 Crore for Infra Projects via Bonds, ADB Loans.                                                                                                                                  

The Nashik Municipal Corporation (NMC) plans to mobilise ₹1,400 crore for key infrastructure projects through municipal and green bonds, along with loans from the Asian Development Bank (ADB). Of this, ₹400 crore will be raised via bonds—₹200 crore through municipal bonds and ₹200 crore through green bonds—by the end of the current financial year, while ₹1,000 crore will be secured through ADB loans early next year. Backed by positive credit ratings from Crisil and India Ratings, the proposal has been submitted to the state’s Urban Development Department for approval. Funds will support sewage treatment, flood mitigation, stormwater networks, water supply, and road projects. Additionally, the move will help NMC meet its obligation to contribute 20% of the state-approved Kumbh Mela plan. For the upcoming event, NMC has prepared a ₹15,000 crore proposal, with ₹3,277.58 crore already approved, ensuring better civic infrastructure and preparedness for the mega religious gathering.