Mumbai Stock Exchange will arrange funds for big projects in Uttarakhand, UIIDB will do this work
The Planning Department in Uttarakhand Secretariat took a meeting on the MoU signed with the Stock Exchange during the Mumbai Road Show. After the meeting, Planning Secretary R Meenakshi Sundaram gave information about this and also shared information about UIIDB (Uttarakhand Investment and Infrastructure Development Board).
Meeting regarding MOU
An important meeting of the Planning Department was held in the Secretariat under the chairmanship of Secretary to Chief Minister R Meenakshi Sundaram. Regarding this meeting, Secretary to Chief Minister R Meenakshi Sundaram said that during the road show held in Mumbai at the recently held Global Investors Summit, some agreements regarding funding were signed with the National Stock Exchange on which a meeting was held to take further action. . R Meenakshi Sundaram told that there has been a discussion on how funds can be raised for big development projects of Uttarakhand through instrument bonds of Mumbai Stock Exchange.
Secretary to the Chief Minister said that under this process, the subject is to raise funds for generation, transmission and supply projects related to green energy under Sustainability Linked Bonds. Apart from this, funds are to be raised in projects related to urban development like municipal bonds. Apart from this, an action plan has been made to train the students of skill development course.
R Meenakshi Sundaram also gave information about UIIDB formed for investment management in the state. He told that this board has been constituted by the government, the responsibility of its Chairman and MD has been handed over to the Secretary to the Chief Minister i.e. R Meenakshi Sundaram. The first board meeting of UIIDB was taken by Chief Minister Pushkar Singh Dhami on Tuesday. Many important decisions have been approved in the meeting. Giving information about the further process and role of the board, UIIDB MD Meenakshi Sundaram said that at present the creation of an initial corpus fund of Rs 10 crore has also been approved in the board. Soon the structure of the board will also be formed and the work assigned to the board will be reduced rapidly.
What is UIIDB Board, what is its function?
Let us tell you that this board has been formed to categorize the projects related to infrastructure development in the state and to successfully implement them on priority. For example, apart from the development and expansion of airports in the state, huge investment is required for the development of basic sectors like telecommunication, development of medical colleges, new township-housing, industrial logistics corridors, tourism related construction etc. For this, in view of the limited financial resources, it is necessary to attract domestic and international capital investors to this region to meet the capital requirements for the development of basic infrastructure of the state. For this, special attention will have to be paid to the promotion of Public Private Partnership (PPP) projects. Along with these needs, Uttarakhand Investment and Infrastructure Development Board i.e. UIIDB has been formed for investment management.
