GlobalDF develops the World Bank’s City Creditworthiness Self-Assessment & PlanningToolkit
Given the need for cities to access finance, GlobalDF was engaged by the World Bank to develop an assessment and planning tool for local governments to improve their creditworthiness. GlobalDF received a US$ 500,000 grant from the Rockefeller Foundation to help the World Bank design and implement the City Creditworthiness Self-Assessment & Planning Toolkit. The grant enabled GlobalDF to develop a virtual platform as part of the World Bank’s City Creditworthiness Initiative to enable cities to evaluate their creditworthiness and identify ways to improve it. The Toolkit was also designed to disseminate learning globally on facilitating access to capital markets.
The World Bank uses the Toolkit as part of its City Creditworthiness Academies, hands-on learning programs that teach city leaders the fundamentals of creditworthiness and municipal finance including issues determined by the enabling environment and options for financing: revenue management and enhancement; expenditure control and asset maintenance; capital investment planning; debt management; and, scoping out options for financing. Using the Toolkit as a preliminary self-assessment tool, participants develop a customized preliminary action plan of specific institutional reforms, capacity building, and other actions that will improve their creditworthiness and their ability to plan, finance and deliver infrastructure services. For more information, see www.citycred.org.