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India Plans $3.3 Billion Sovereign Green Bond Issuance

  • Sale is first foray by Indian government into green funding
  • Money raised will be to fund renewable energy projects
Updated on

India will issue at least 240 billion rupees ($3.3 billion) in sovereign green bonds as the country marks a shift towards a low-carbon economy, according to officials with knowledge of the matter.

The debut sale may take place in the first half of the fiscal year that starts on April 1, and a decision to sell more green debt will depend on the response to the initial issuance, the people said, requesting not to be identified as the information is private, said.