World Bank ConferenceWorld Bank:
Global Conference on
Capital Markets Development at the Subnational Level

New York, New York: 15-18 February 2000


Information regarding the Global Conference on Capital Markets Development at the Subnational Level, taking place at the Hilton Hotel, New York, NY on February 15-18, 2000.

This conference is the culmination of a two-year initiative organized in partnership with the private sector, multilateral and bilateral institutions, the academia, and World Bank Group members.

The objective of the conference is to improve participantsí knowledge and ability to analyze the financial capacity of regional and local governments and levels of creditworthiness as an input to better assess how to use financial instruments including subnational capital markets. The conference will facilitate links between private and public sectors, and set the new agenda for promoting a sound development of capital markets at the subnational level.

The conference will bring together government officials from emerging economies, governors and mayors from provinces/states and cities that have accessed the capital markets in the domestic and international markets, international corporate leaders, investors and credit-rating agencies.

The key issues to be addressed include:

  • Helping cities raise their own capital to face the challenges of globalization and localization
  • Increasing expertise and efficiency of governments in developing capital markets at the subnational level
  • Furthering transparency and accounting standards on financial management for local governments
  • Building a balance between central and local government and the private sector for developing capital markets at the subnational level
  • Understanding credit rating agencies, their criteria on creditworthiness and on the financial performance
  • Identifying together with the private sector ways to improve the institutional investors perspectives after the current financial crisis
  • Exchanging information about the different roles played by provinces and municipalities in the process of accessing capital markets and promoting networking among them and the private sector
  • Disseminating and discussing the case studies done in Africa, Asia, Eastern Europe and Latin America for access to the capital markets at the subnational level
  • Establishing ways to provide technical assistance and operational programs to improve the access to capital markets of regional and local levels of government


Malcolm Locke

World Congress

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