City Creditworthiness Initiative

The City Creditworthiness Initiative is designed as a platform to systematically reach clients with instruments that would otherwise be considered on a stand-alone basis. Reform-minded authorities seeking more, better, and longer-term financing for capital investments would engage with the Initiative to access capacity building support, international expertise, local hands-on assistance, peer-to-peer networking, credit rating and transaction guidance. To this effect, the Initiative will need to establish operational collaborations with key stakeholders to coordinate the most efficient and effective delivery of technical assistance to clients. Systematic partnerships will be pursued, and to some extent have been already achieved, at the national level (e.g. joint WB/IMF Debt Management Facility) and at the sub-national level (e.g. Deep Dive Umbrella Facility on Capital Market Development). Existing collaborations with practitioners, such as the very successful one with the Municipal Institute of Learning (Durban, South Africa) will continue to play a critical role and are the basis for engaging with other stakeholders. The direct result for all participating entities would be enhanced financial performance and improved overall capacity to deliver better infrastructure services.