India, Sept. 9 -- In a first-of-its-kind initiative to improve sanitation infrastructure, and promote environmental sustainability in Visakhapatnam, IFC has committed an investment of up to $60 million in the form of Rupee-based Non-Convertible Debentures (NCDs) to the Greater Visakhapatnam Municipal Corporation (GVMC). This is IFC's maiden municipal financing in India and the first investment by a development finance institution to a city, without a sovereign guarantee. Visakhapatnam, Andhra Pradesh's largest city and one of India's fastest-growing urban centers, is experiencing rapid growth, particularly in the Madhurawada region, which is emerging as a hub for sustainable urban infrastructure. This includes the Madhurawada Sewerage Syste...