Advisory Services Program

Gemloc Advisory Services Program (ASP) is a component of the new World Bank Group initiative Global Emerging Markets Local Currency Bond Program (Gemloc), which aims to strengthen and enhance the investability of local currency bond markets. The other two components of Gemloc are (1) a private sector investment manager that will promote investment in local currency bonds and (2) a new global emerging markets local currency bond index – GEMX.

Gemloc ASP provides assistance to emerging market economies in developing their local currency bond markets and consists of three main parts: country-specific work, cross-country dialogue, and applied research. These services are provided by first class experts and through cooperation among countries involved in the program.

Products and Services

• Needs assessments and action plans – working with countries to develop a road map for debt market reforms.
• Reform implementation oversight – advising and supporting countries in implementing these reforms.

• Peer-country dialogue – bringing together countries with similar reform agendas for focused roundtable discussions.
• Case studies – disseminating lessons from peer country experiences and dialogues.
• Discussion forums – facilitating online discussion groups between counterparts from Ministries of Finance, Central Banks and Securities Regulators from different Gemloc countries to exchange views and experiences, as well as share materials.

• Working paper series – covering macro and micro issues that affect the development of local bond markets
• Short notes – summarizing key relevant conclusions of applied research and country-specific work