February 2019

We are pleased to present two pivotal briefs 'The Roadmap for Municipal Bond Markets in India' and 'A Financial Brief on Municipal Corporation of Greater Mumbai' which discuss the state of financial management in our municipalities and the challenges in attracting private capital in public infrastructure.  The key takeaways from the briefs are shared below.

The Roadmap for Municipal Bond Markets in India
The Roadmap was prepared in collaboration with The Bridgespan Group and supported by the Omidyar Network and seeks to identify systemic solutions that can help build sustainable municipal bond market in India in the next five years. The brief identifies nine solutions, of which four prioritized solutions have been discussed at length at a convening that was held in December, 2018 in Mumbai. Through these solutions we believe we can build a sustainable ecosystem where cities can access capital markets to meet their infrastructure financing requirements. This document is our first step towards building an ecosystem to bring municipalities, market players and civil society together on market-making platforms.

A Financial Brief on Municipal Corporation of Greater Mumbai (MCGM)
The brief provides an outline of the financial statements of the MCGM and identifies four challenges of the municipality to undertake various infrastructure projects in Mumbai. The brief takes a shot at analyzing the budget estimates and suggests a way forward to improve its financial reporting and disclosures.
 
We believe these briefs will catalyze a conversation among key stakeholders such as yourself and help create opportunities for us to collaborate and engage further for financial sustainability of our Municipalities to provide a good quality of life in India’s cities and towns. We look forward to your support and engagement on this crucial reform agenda!