The Securities and Exchange Board of India (SEBI) conducted a Municipal Bond Outreach Programme in Thiruvananthapuram from June 30 to July 1, 2025. The program's objective was to educate Urban Local Bodies (ULBs) and relevant stakeholders on municipal debt securities, pool financing, and innovative market-based financing mechanisms. Sessions covered structuring bond issuances, regulatory compliance, credit rating, and continuous disclosures, incorporating case studies and intermediary interactions to provide practical capital market access knowledge. As part of SEBI's ongoing efforts, the initiative aims to foster transparency, market readiness, and sustainable urban infrastructure financing within the municipal bond ecosystem. A highlight of the workshop was the launch of "The Green Book On Climate Finance Green Municipal Bonds" by the Vadodara Municipal Corporation (VMC). This publication, documenting Asia's first globally certified Green Municipal Bond issued by VMC, serves as a Global Case Study 2025 to guide other ULBs in implementing sustainable financing practices. The Green Book is accessible via a QR Code.
Key Entities Referenced
Securities and Exchange Board of India: Regulatory body SEBI, conducting the Municipal Bond Outreach Programme.
Municipal Bond Outreach Programme: A SEBI initiative to promote urban financing through municipal debt securities.
Thiruvananthapuram, Kerala: Location of the Municipal Bond Outreach Programme.
Urban Local Bodies: Target audience and stakeholders for the outreach program.
The Green Book On Climate Finance Green Municipal Bonds: Publication launched by the Vadodara Municipal Corporation regarding Green Municipal Bonds.
Vadodara Municipal Corporation: Issuer of Asia's first globally certified Green Municipal Bond and publisher of 'The Green Book'.
Asia: Geographical region of the first Green Municipal Bond certified globally
Mumbai, Maharashtra: Location of press release issuance.
PR No. 36/2025
SEBI conducts Municipal Bond Outreach Programme to Enhance Urban
Financing
Securities and Exchange Board of India (SEBI) organized a Municipal Bond
Outreach Programme on June 30 – July 1, 2025, at Thiruvananthapuram.
The event aims to equip Urban Local Bodies (ULBs) and stakeholders with insights
into municipal debt securities, pool financing, and innovative market-based
financing mechanisms.
The programme featured sessions on structuring municipal bond issuances,
regulatory compliance, credit rating, and continuous disclosures.
Case studies and interactions with intermediaries provided participants with
practical knowledge to access capital markets.
The initiative is part of SEBI’s continued efforts to promote transparency, market
readiness, and sustainable urban infrastructure financing through the municipal
bond ecosystem.
A key highlight at the Workshop has been the official launch of “The Green Book –
On Climate Finance & Green Municipal Bonds” by the Vadodara Municipal
Corporation (VMC). The launch was led by senior members of VMC, including the
Hon’ble Mayor, Municipal Commissioner, and Deputy Commissioner.
Page 1 of 2The publication documents Asia’s first globally certified Green Municipal Bond,
issued by VMC, and presents it as a Global Case Study (2025) to guide other ULBs
in adopting sustainable financing practices. It is accessible via this QR Code.
Mumbai
July 01, 2025
Page 2 of 2