Urban Development Series Knowledge Papers

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Produced by the World Bank’s Urban Development and Resilience Unit of the Sustainable Development Network, the Urban Development Series discusses the challenge of urbanization and what it will mean for developing countries in the decades ahead. The Series aims to explore and delve more substantively into the core issues framed by the World Bank’s 2009 Urban Strategy Systems of Cities: Harnessing Urbanization for Growth and Poverty Alleviation. Across the five domains of the Urban Strategy, the Series provides a focal point for publications that seek to foster a better understanding of (i) the core elements of the city system, (ii) pro-poor policies, (iii) city economies, (iv) urban land and housing markets, (v) sustainable urban environment, and other urban issues germane to the urban development agenda for sustainable cities and communities.

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    Sustainable Infrastructure Financing for Small Towns in China: Approaches to Attract Long-Term Capital for Small-Scale Infrastructure Projects
    (World Bank, Washington, DC, 2017-11) Campanaro, Alessandra ; Reja, Binyam
    China has experienced rapid urbanization in the past three decades, which has successfully brought unparalleled economic growth, employment creation and improvement in living standards. This paper is focused on exploring the feasibility of establishing a pooled Infrastructure Financing Facility (IFF) at the sub-national level to provide sustainable long-term finance to infrastructure projects in small towns. The paper reviews China’s fiscal and infrastructure financing system, including the 2014 amendment of China’s Budget Law and associated regulations, presents an overview of pooled IFFs, and explores the potential application of a pooled financing facility in China, specifically for urban infrastructure projects in the greater Shanghai region.