The Academy is part of the mobilizing finance for development agenda, focused on identifying solutions to the key risks, market failures, and obstacles that prevent market-based financing from playing a greater role in addressing development challenges.
“The World Bank Group believes that devolution is key to ending poverty and promoting shared prosperity in Kenya,” said Manuel Moses, IFC East Africa, Country Manager.
“This requires multiple initiatives such as supporting County Governments on the path to creditworthiness to unlock the potential for achieving larger, longer-term, and sustainable financing,” he added.
The Academy provides access to capacity building support, international expertise, local hands-on assistance, peer-to-peer networking, credit rating and transaction guidance to reform-minded sub-national governments.
The training deals with the full range of factors affecting counties’ creditworthiness, revenue management and enhancement, expenditure control and asset maintenance, capital investment planning, debt management, the use of special purpose vehicles to “ring fence” specific revenues; and scoping out options for financing.