Industry and green economy future development is the direction of the future development of the city. Upgrading, scientific planning, improving government assets management and city reputation have become priorities for local government.
Why “Fiscal Management and Accountability for Improved National and Sub-national Creditworthiness” ?
l ‘Creditworthiness’ – the ability to borrow (based on the demonstrated ability and willingness to pay back) at reasonable interest rates for reasonably long periods of time (multi-FY for capital improvements) as well as short periods (1FY for cash flow management) - is the acid test of financial AND operational management quality
l If a national or sub-national entity does not have well-executed financial management strategies and systems creating a good track record, it will not be deemed creditworthy by credit rating agencies, financial intermediaries or lenders
l National and sub-national public finance systems in countries which have participated even modestly in the devolution revolution are now so intertwined that each level of government has a direct stake in the creditworthiness of the other
l Fiscal Management & Accountability for Improved Creditworthiness at both Central & Sub-national Government Levels
l Operating & Capital Budgeting
l Public Financial Accounting and Auditing Frameworks
l Pro-Poor Revenue Enhancement & Management Strategies
l Intergovernmental Transfer Systems
l Public Property Valuation and Management
Training Expert: Thomas H. Cochran
Managing Director Civil Credit Advisors LLC
Senior Advisor, Sub-national Technical Assistance, World Bank Group
l 40 year+ career involved in public finance policy and practice in the both US and all four emerging market regions.
l 5 years in NY City and NJ State Governments, 6 years on Capitol Hill in Washington DC leading a public policy think tank focused on economic, environmental and social issues facing the US industrial ‘rustbelt states’ of the Northeast and Midwest regions
l 30 years’ as an investment banker and financial advisor mobilizing capital for renewable energy, energy efficiency, water and other essential public infrastructure
l Currently: designing and rolling out the City Creditworthiness program component of the World Bank Group’s Low Carbon Livable Cities (LC2) Initiative
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