Pimpri Chinchwad Municipal Corporation signed MoU with UNDP India

Current Context: The Pimpri Chinchwad Municipal Corporation (PCMC) has entered into MoU with UNDP (United Nations Development Programme) India. 

• The MoU is signed to co-create India’s first Social Impact Bond (SIB).
• In this unique investment tool, PCMC will only have to bear the costing of public welfare projects which are related to the bond if the pre-defined targets of the projects are achieved.
• This social impact bond is based on outcome-based targets which are to be achieved at the initial stage of the contract, which is helpful to track the progress work of projects and to maintain transparency with the investors.
• The SIB will also help to utilize funds effectively and efficiently for the projects. 
• PCMC will get the benefit of this SIB to improve the healthcare services and will also help to attract more investors from private and public sectors. 
• Static Part: 
• HQ of PCMC: Pune
• HQ of UNDP India: New Delhi

Question: 

Q.1 The Pune based Pimpri Chinchwad Municipal Corporation (PCMC) signed MoU with whom to co-create India’s first Social Impact Bond (SIB)?
a. Infosys
b. SERUM Institute of India
c. UNICEF
d. UNDP India