ICMA developed and delivered an intensive course in municipal finance for East Asian and Southeast Asian officials in 2011, 2012, and again in 2013. The objective of the training, funded by the World Bank, was to increase the capacity of local governments to secure bond financing necessary for infrastructure improvement.
ICMA partnered with the World Bank’s Global Development Learning Network (GDLN), an interactive videoconferencing system, which allowed participants from Indonesia, Malaysia, Mongolia, the Philippines, Thailand, and Vietnam to attend sessions. The modules covered the following topics:
- The operating budget
- Capital planning and budgeting
- Revenue generation
- Accounting and reporting
- Creditworthiness and debt financing.
At the end of the 2011 session, 105 officials from five Southeast Asian nations received certificates of achievement. In 2012, 72 additional officials successfully completed the course, and in 2013, 42 participants also received certificates of completion.
The ICMA training is one component of a strategy developed by the World Bank in partnership with the Association of Southeast Asian Nations (ASEAN). The two organizations have established an Infrastructure Finance Network that provides a regional platform for government and private-sector leaders to explore innovative approaches to infrastructure financing that can facilitate the flow of private capital into infrastructure development.