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Financing mechanisms at the subnational level in emerging markets borrowings and privatization / concessions (anglais)

This note reviews the current borrowing trends for subnational entities (e.g., provinces, states, and municipalities) in developing countries where - in addition to the traditional municipal credit institutions sponsored by central governments - a number of new financing instruments have been developed based on the security provided by intergovernmental transfers and taxing authority. It also reviews the trends in privatization and concession of urban...
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