The third Creditworthiness Academy was held in Arusha, Tanzania on August 4-8, 2014. The event was a great success and was attended by over 100 treasurers, revenue accountants, economists of 34 Urban Local Government Authorities of Tanzania Mainland and Zanzibar. Representatives from the Prime Minister’s Office – Regional Administration and Local Government and Ministry of Finance of Zanzibar also attended the Academy.
The Academy supports local governments to improve financial management performance. In the Arusha Academy, topics included revenue management and enhancement; expenditure control and asset maintenance; capital investment planning; debt management; the use of special purpose vehicles to “ring fence” specific revenues; scoping out options for financing; and developing the enabling environment for private sector involvement. The training also introduced lessons from global best practices, relevant for the Tanzanian context.
The Academy is a part of a larger initiative launched by the President of the World Bank to reach 300 cities in developing countries over four years to help them plan for a low-carbon future and get the needed finance flowing. PPIAF, the World Bank and other partners designed the City Creditworthiness Program to help city financial officers conduct thorough reviews of their municipal revenue management systems and take the first steps to qualify for a rating. The inaugural session of the City Creditworthiness Program took place in Nairobi, Kenya. The second academy took place in Seoul Korea in April 2014. Additional trainings are planned in other parts of Asia and Latin America in the coming months.