New Delhi: Union Road Transport Minister Nitin Gadkari On Monday asked private sector entities to come forward for development of social bonds to finance road safety projects in the country. He said that the funds generated through social contribution can be used to finance projects like 100 zero lethal corridors in India.
Social bonds are the use of forward-looking bonds to raise funds for new and existing projects with positive social outcomes.
Gadkari did this while addressing a virtual workshop organized by Observation world Bank On “Private Financing for Road Safety”. “Proposed to me the idea of raising private capital through social bonds, sustainability-linked bonds and pooling CSR The funds can be widely used for road safety improvement efforts. I urge all private sector entities to actively come forward for the development of social bonds,” he said.
Gadkari said that the first zero fatality stretch.
Gadkari said that though insurance companies are the direct beneficiaries of a life saved, they have hardly contributed to the cause in India. He said there is huge scope for improvement in approving claims and providing assistance to the families of the victims.
Social bonds are the use of forward-looking bonds to raise funds for new and existing projects with positive social outcomes.
Gadkari did this while addressing a virtual workshop organized by Observation world Bank On “Private Financing for Road Safety”. “Proposed to me the idea of raising private capital through social bonds, sustainability-linked bonds and pooling CSR The funds can be widely used for road safety improvement efforts. I urge all private sector entities to actively come forward for the development of social bonds,” he said.
Gadkari said that the first zero fatality stretch.
Gadkari said that though insurance companies are the direct beneficiaries of a life saved, they have hardly contributed to the cause in India. He said there is huge scope for improvement in approving claims and providing assistance to the families of the victims.
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