BMC
The selected agency will prepare a Capital Investment Plan (CIP) and a Debt Management Policy (DMP) and help the civic body mobilise funds through multiple financing instruments, according to the tender issued by the BMC’s Chief Accountant (Finance) on September 21. The proposed agency will therefore work alongside these intermediaries and provide end-to-end advisory, handholding, structuring and coordination support.
BMC officials said it is separately in the process of appointing merchant bankers and other transaction intermediaries for specific assignments, including bond issuances. “The agency will also assist the BMC Finance Department in preparing financial presentations, briefing notes and talking points for meetings with state government departments, external delegations, domestic and international study tours and apex bodies, including the 15th and 16th Finance Commissions,” states the tender document. The proposed financing strategy will cover seven broad areas, including capital markets, climate and carbon finance, development finance, government support mechanisms, innovative and blended finance, and revenue enhancement measures. The agency will also advise BMC on municipal bonds, including green, sustainability, social and sustainability-linked bonds. Its mandate will include identifying opportunities for carbon credits, certification and monetisation, as well as helping the civic body access Central and state government grants, subsidies, low-interest loans and other schemes.