Social bonds are the use of proceed bonds that raise funds for new and existing projects with positive social outcomes.
Gadkari made this observation while addressing a virtual workshop organized by the World Bank on “Private financing for road safety”. “The idea presented to me of private capital mobilisation through social bonds, sustainability-linked bonds and pooling of CSR funds can be widely used for road safety improvement efforts…I urge all private sector entities to pro-actively come forward for the development of social bonds,” he said.
Gadkari said the first Zero Fatality stretch.
Gadkari said although insurance companies are direct beneficiaries of a saved life, they have made hardly any contribution to the cause in India. He said there is a huge scope of improvement in approving claims and providing support to families of the victims.