It's not difficult to justify smart city initiatives that successfully meet the needs of growing urban populations. But it can be a finance officer's nightmare to find a way to pay for them. Click to learn about a new financing option designed to help cash-strapped cities make their smart city vision a reality.
Financing and procurement tools
The sustainability and livability benefits of smart cities are attracting the interest of more and more city leaders. But money is often the big roadblock. Read on to learn how you could get around it.
Easier rules will come as a lifeline for fund-starved developers engaged in private township projects, say experts.
India and Belgium have signed a new energy deal, an Memorandum of Understanding (MoU) that will help in strengthening bilateral cooperation between the two countries.
The Asian Development Bank (ADB) will be lending $ 200 million to the Indian Renewable Energy Development Agency (IREDA) to support renewable energy projects in the country.
The Urban Development ministry has approved action plans for a total of 143 projects, with major funds diverted towards sewerage projects. The other area of focus has been improving water supply in these cities.
Majority of the proposed investment will be spend for re-development the adjoining area of the New Delhi railway station as a mini-smart city.
Tata Housing Development Company, NBCC, Mahima Real Estate and Wish Empire to invest around Rs 5,400 crore to promote affordable housing in the state.
The Ministry of Urban Development (MoUD) has moved proposals before the finance ministry’s Department of Economic Affairs (DEA) for seeking financial assistance from France and Germany for funding its five-year Smart City mission.
The Japan International Cooperation Agency and SoftBank Group Corporation have expressed their intention to invest up to Rs 12,000 crore and Rs 10 crore in Indore-Bhopal metro and solar power project in Madhya Pradesh, respectively.