Urban infrastructure financing needs reforms: better municipal finances, pooled bonds, PPPs, debt-market development and default resolution. Market-based instruments and private participation are key to urban infrastructure financing but are constrained by weak municipal creditworthiness, limited secondary markets, non-standardised accounting and regulatory bottlenecks; recommended reforms include standardised municipal accounting, strengthened intergovernmental transfers, pooled finance with legislative backing, review of tax-exempt interest caps, development of domestic debt markets, a transparent municipal default resolution mechanism, and safeguards to ring-fence project revenues to attract private and multilateral capital.
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Urban infrastructure financing needs reforms: better municipal finances, pooled bonds, PPPs, debt-market development and default resolution.
Market-based instruments and private participation are key to urban infrastructure financing but are constrained by weak municipal creditworthiness, limited secondary markets, non-standardised accounting and regulatory bottlenecks; recommended reforms include standardised municipal accounting, strengthened intergovernmental transfers, pooled finance with legislative backing, review of tax-exempt interest caps, development of domestic debt markets, a transparent municipal default resolution mechanism, and safeguards to ring-fence project revenues to attract private and multilateral capital.
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