Photo: Debbie Hildreth Pisarcik | Flickr Creative Commons
Several years ago, after almost two decades at various investment banks, I joined the World Bank’s Financial Solutions team. I had always thought of the World Bank as the leading concessional lender to governments, the financial muscle behind large infrastructure projects, and the coveted supranational client of investment banks. I have since discovered the power of World Bank guarantees and how they can help borrowers maximize their World Bank country envelopes. Since joining, I have helped various clients raise over $2 billion in commercial finance. And all this with a fraction of World Bank exposure.
Decentralization has been a buzz word in the development world for a while, but disagreements remain about when and how different types of decentralization are successful in improving accountability and service delivery. Although decentralization is often used as a monolithic concept, the term can include political, fiscal, administrative or market decentralization, and can involve var