Planned Development and Modern Infrastructure of Cities to Get New Momentum

Chief Minister Mr. Sai will inaugurate Regional Workshop on Urban Challenge Fund and Urban Infrastructure Financing on October 21

New doors to open for investment in urban development, two important MoUs to be signed in the presence of the Chief Minister

Department of Urban Administration and Development to sign MoU with HUDCO and SEPT University

Experts in urban development and financial management to gather in Naya Raipur, discussions on municipal bonds, PPP model, and investment-based projects

An important initiative towards making urban bodies financially capable and self-reliant

Raipur, The state government is taking a significant step towards the planned and sustainable development of cities in Chhattisgarh, expansion of modern urban infrastructure, and making urban bodies more financially capable. Chief Minister Mr. Vishnu Deo Sai will inaugurate a one-day regional capacity building workshop on Urban Challenge Fund (UCF) and Urban Infrastructure Financing in Naya Raipur at 10 AM on October 21.

Policy makers and experts from urban development, financial management, and infrastructure sectors from across the country will participate in the workshop. During this, intensive deliberations will be held on important topics such as mobilizing new financial resources for city development, attracting private investment, issuing municipal bonds, developing infrastructure through Public-Private Partnership (PPP), and making affordable housing projects economically viable.

In the presence of Chief Minister Mr. Sai, two important Memorandum of Understandings (MoUs) will also be signed by the Department of Urban Administration and Development with HUDCO and SEPT University. Through these agreements, cooperation will be enhanced to strengthen the institutional and financial capacity of urban bodies, promote modern urban planning, and accelerate investment-based infrastructure projects.

The workshop, jointly organized by the Department of Urban Administration and Development of the state government and HUDCO at Hotel Mayfair Lake Resort in Naya Raipur, will be attended by Union Minister of State for Housing and Urban Affairs Mr. Tokhan Sahu and Deputy Chief Minister and Minister for Urban Administration and Development Mr. Arun Sao as special guests.

The workshop will focus on increasing the availability of financial resources for urban development projects through the Urban Challenge Fund and Urban Invest Window (UiWIN), and enabling urban bodies to prepare investment-worthy projects. Along with this, experts will also provide guidance on making urban projects economically viable, preparing their financial plans, and modern systems of long-term financial management.

Mr. Sanjay Kulshreshtha, Chairman and Managing Director of HUDCO, will deliver the key note address at the workshop. Mr. Sonmani Bora, Principal Secretary of the Department of Urban Administration and Development, will share his views on the priorities of urban development in the state, the needs of urban infrastructure, and the objectives of the workshop.

Financial models of urban development to be discussed in three technical sessions

Three technical sessions will be organized from 12 PM as part of the workshop. In these sessions, experts from various states and institutions of the country will share their experiences on successful models of urban development, financial innovations, and practical aspects of making projects investment-worthy.

In the first technical session, Dr. Vivek, General Manager of HUDCO, will give a presentation on the concept, working, and potential uses of the Urban Challenge Fund and Urban Invest Window in urban development projects. Dr. T.K. Sridevi, Secretary of the Telangana government, will share experiences of urban transformation in Telangana. This will provide an opportunity for urban bodies to understand various models of urban development and their practical implementation.

Special focus on bankable projects and PPP model

In the second technical session, to be held from 2 PM, Urban Specialist Ms. Astha Jain will give a presentation on the process from conceptualizing projects to their construction and preparing detailed project reports (DPRs).

Mr. Prakash Gaur of CITIES Forum will discuss various aspects of bankable urban infrastructure projects, affordable housing projects, and PPP structuring. Mr. Raghu Kesavan from the World Bank will provide information on methods for better financial management of urban projects through municipal finance and revenue ring-fencing.

This session will be particularly useful for urban bodies, as it will guide them in preparing projects tailored to local needs, which have the potential to attract institutional finance and private investment.

Discussion on mobilizing resources for urban development through municipal bonds

In the third technical session, to be held at 4:15 PM, Mr. Umesh Khandelwal of Tipsons will discuss the possibilities of mobilizing financial resources for urban development through municipal bonds. Through the effective use of modern financial instruments like municipal bonds, urban bodies will be able to move towards mobilizing alternative financial resources for large infrastructure projects.

After this, Mr. Hitesh Bord, Regional Head of HUDCO, will provide information on the financial facilities available from HUDCO for bankable urban infrastructure and affordable housing projects under the Urban Challenge Fund.

A panel discussion and question-and-answer session will be held at 5:20 PM with Dr. Vivek, General Manager of HUDCO. In this, participants will be able to directly interact with experts on practical issues related to urban development, financial structuring of projects, mobilizing investment, and project implementation.

An important step towards strengthening the financial capacity of urban bodies

Through the workshop, urban bodies of the state will gain knowledge about the effective use of modern options like investment-based development, municipal bonds, PPP, and institutional finance, along with traditional financial resources. This will help urban bodies develop the capacity to prepare quality and economically viable projects according to their needs and mobilize financial resources for them.

The deliberations in the workshop will prove important in accelerating the construction of modern infrastructure, affordable housing, better civic amenities, and investment-based development in the cities of Chhattisgarh. Along with this, this initiative will also be useful in making urban bodies financially capable in the long term and developing the state's cities to be more organized, convenient, and in line with future needs.