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IBM_HTTP_Server Server at wbes832.worldbank.org Port 4003
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Links to Capital Market Infrastructure
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Sound local government credit markets and financial transactions cannot develop without effective financial institutions and instruments and sound financial market regulation and supervision. Highlighting this inter-dependence, this section will provide guidelines that assist local governments understand and assess the improvements needed in the financial market infrastructure to expand and tap the upstream long-term funding pool for local investments. With this understanding, this subsection will: discuss benchmarks for pricing debt obligations, provide advise on the critical requirements related to underwriting/distribution of local government debt securities and the develop of market-making capabilities in secondary markets; and, outline approaches to building closer financial partnerships between local governments and providers of services and capital.
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