Turkey Municipal Finance and Creditworthiness Academy
April 11-15, 2016Ankara, Turkey

The World Bank and the Turkish Union of Municipalities are organizing this week long training for Municipalities in Turkey with the objective of strengthening their Financial Management Capacities. Twenty three Metro Municipalities and 3 utilities have signed up and a total of over 100 participants including training Academy Faculty are participating in the event. The 5-day Academy will deal with the full range of factors affecting cities’ financial management performance, including: 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. Using a preliminary self-assessment tool, the participants will develop a customized draft action plan of specific institutional reforms, capacity building, and other actions that will improve their creditworthiness and facilitate their ability to plan, finance and deliver infrastructure services.

The World Bank Group

City Creditworthiness Initiative

For sustainable development to become a reality, Cities and other sub-national entities responsible for essential public infrastructure need access to finance. Supporting these entities on the path to creditworthiness is the only way to unlock the potential for achieving larger, longer-term, sustainable investments. However, they will not be able to achieve creditworthiness overnight. It is typically a long process, which requires strengthening of fundamentals (in particular improving municipal revenues and financial management), but also stronger project development capacity (in particular planning and structuring), long-term asset management, as well as a supportive enabling environment (both on the central government and private sector sides). The City Creditworthiness Initiative is committed to supporting cities throughout this process by delivering technical assistance to sub-national authorities in developing countries with the objective of improving municipal credit markets for climate-smart infrastructure projects, using local currency markets if at all possible. The Initiative is conceived to coordinate and integrate existing efforts, instruments, knowledge, and resources from partners and stakeholders by identifying the most effective solutions and implementation arrangements for sub-national entities. Success of the Initiative hinges on the ability by multiple sources to deliver capacity and instruments to clients, drawing from best practice methodologies at a global level.

With the ultimate goal of enabling sub-national entities to structure viable investments that will deliver low-carbon and resilient infrastructure services, the Initiative will work with local authorities, including utilities, providing comprehensive, hands-on, and long-term support to help them:

1. Achieve higher creditworthiness by strengthening their financial performance;

2. Deepen understandings of the  legal and regulatory, institutional, and policy framework for responsible sub-sovereign borrowing through reforms at the national level;

3. Improve the “demand” side of financing by planning/developing sound projects;

4. Improve the “supply” side of financing by engaging with the private sector investors.

By partnering with global and regional stakeholders, the City Creditworthiness Initiative will scale up impact through a systematic and long-term programmatic engagement with cities. The City Creditworthiness Initiative is designed as a platform to systematically reach clients with instruments that would otherwise be considered on a stand-alone basis. To this effect, the Initiative will need to establish operational collaborations with key stakeholders to coordinate the most efficient and effective delivery of technical assistance to clients, such as with TBB (Turkish Union of Municipalities).  Existing collaborations with practitioners, such as the very successful one with the Municipal Institute of Learning (Durban, South Africa) will continue to play a critical role and are the basis for engaging with other stakeholders.

Reform-minded municipal authorities seeking more, competitively-priced,, and longer-term financing for capital investments engage with the Initiative to access capacity building support, international expertise, local hands-on assistance, peer-to-peer networking, credit rating and transaction guidance. 

The direct result for all participating entities is their enhanced financial performance and overall capacity to deliver better infrastructure services.

Read more here

April 11 -15, 2016 – Ankara, Turkey

Download the full agenda here.

Academy Team and Presenters Profiles
  • Joshua Gallo

    Senior Municipal Finance Specialist
    Joshua Gallo, Senior Municipal Finance Specialist at the World Bank since 2000, leads the World Bank’s global City Creditworthiness Initiative and various country-specific technical assistance programs (in particular Tanzania and Uganda). He’s also Program Manager for the Multi-Donor City Creditworthiness Partnership. Previously he was Program Leader for the Sub-National Technical Assistance (SNTA) Program under the Public-Private Infrastructure Advisory Facility (PPIAF), as well as Program Manager for the Norwegian Trust Fund for Private Sector and Infrastructure (NTF-PSI). He was posted in long-term assignments in Peru and Tanzania. He holds a Master’s Degree in International Economics and Law from the Johns Hopkins’ School of Advanced International Studies (SAIS).
  • David Painter

    Municipal Finance Advisor
    David Painter has more than 35 years of experience in public and private sector urban development finance, including 25 years with the USAID Foreign Service. Since 2004 he has advised organizations such as the World Bank, the Public Private Infrastructure Advisory Facility (PPIAF) and the Cities Alliance on improving city creditworthiness and facilitating urban infrastructure financing. As former Director of the USAID Office of Housing & Urban Programs in Washington, D.C., David provided leadership for USAID on issues of pro-poor urban development including the financing of housing and municipal infrastructure. While based overseas, David directed the operations of the USAID Regional Housing and Urban Development Offices in Asia (based in Bangkok), and the Middle East & North Africa (based in Tunis). David has a Masters degree from The Woodrow Wilson School of Princeton University and a Bachelors degree in Economics and Political Development from Colgate University.
  • Jan Whittington

    Assistant Professor, Urban Design and Planning
    Dr. Jan Whittington is Assistant Professor of the Department of Urban Design and Planning, at the University of Washington, Seattle. Her research applies transaction cost economic theory to networked infrastructures, such as transportation, water, and communications systems, to internalize factors historically treated as external to transactions. Her publications include methodologies for greenhouse gas mitigation and resilience through capital investment planning, the incorporation of ecosystem service values into accounts of infrastructure investment, examination of the efficiency of public-private contractual arrangements for infrastructure, and the evaluation of online transactions for efficiency, security, and privacy. At the University of Washington, she teaches infrastructure planning and finance, public finance, infrastructure mega-projects, science for environmental policy, planning for water, and land use planning. Her PhD (2008) is in City and Regional Planning from the University of California, Berkeley, where she was advised by economic Nobel laureate Oliver Williamson. Prior to her academic career, she spent 10 years with infrastructure giant Bechtel Corporation, as a strategic planner and environmental scientist. She holds bachelor degrees in Biology and Environmental Studies from the University of California, Santa Cruz (1987). Her master’s degree is in City and Regional Planning, from California State University, San Luis Obispo (1993).
  • Natwar M. Gandhi

    Former Chief Financial Officer
    Natwar M. Gandhi retired in January 2014 from his long tenured position as the District of Columbia's independent Chief Financial Officer (CFO) where he was first appointed in 2000. In his CFO capacity, Gandhi was responsible for Washington, DC’s finances, including its approximately $12 billion in annual operating and capital funds. During Gandhi's tenure as CFO, the District was transformed from a deficit-plagued, junk bond rated jurisdiction with $550 million negative fund balance into a financially healthy municipality with a string of balanced budgets and a fund balance of $1.5 billion at the end of 2013. Gandhi secured multiple rating upgrades from the major rating agencies for its general obligation bonds, which are currently rated AA. Gandhi is a Distinguished Policy Fellow at Georgetown University's McDonough School of Business, Center for Financial Markets and Policy and consults with the World Bank in its efforts to create sustainable cities around the world.
  • Johan Kruger

    Municipal Finance Advisor
    Johan was born in South Africa in 1945, studied civil engineering at the University of Stellenbosch and obtained BSc, and B.Eng. degrees. After graduation he worked for the Department of Water Affairs In Namibia for 10 years where he was inter alia responsible for the design and construction of the Swakoppoortdam. in Cape Town. He was seconded to the Urban Foundation, a private NGO working to alleviate the living conditions of Black people in South Africa as National Housing Manager. At the request of the Government he was then seconded to the Department of Community Development with the rank of Deputy Director General to drive the selling of government housing stock by involving the private sector. He left government to head and start an urban development department in the Development Bank of Southern Africa as an executive manager reporting to the CEO. After 10 years in DBSA he initiate and started INCA (infrastructure Finance Corporation) a private intermediary specializing in municipal finance by issuing corporate bonds in the local and international market and on lending at risk to Municipalities. After retiring from Inca he started Afcapconsulting utilizing the perspective from government, local authority Ngo and private banking sector to consult in Africa and other developing areas like Ukraine, South Asia and Vietnam.
  • Elizabeth Bauch

    Municipal Finance Advisor
    Elizabeth, a U.S. national, is a senior municipal finance specialist. Previously she was Public Finance Advisor to the United States Agency for International Develop (USAID) in Mexico and Bolivia, and prior to that she was the Regional Municipal Finance Advisor in USAID’s Latin America and Caribbean Regional Urban Development Office based in in Guatemala. She has worked in the private sector as a public finance analyst with Moody’s Investors Service and served as a financial advisor to local governments in Washington, Oregon, and California. She also worked as a planner for the New York City Department of Sanitation. She holds a Doctorate in Anthropology from Columbia University.
  • Fernando de Gama

    Senior Vice President
    Mr. Fernando J. Gama is the Senior Vice-president of Evensen Dodge International with over 24 years of professional experience in public finance. Mr. Gama has been an active financial advisor to sovereign and sub-sovereign governments, public entities and corporations, and public-private programs (PPP) in several countries. Mr. Gama directs several different strategic alliances that Evensen Dodge International has established with agencies and organizations, including Global Development Alliance Programs (GDA) with USAID, and the Cities Funding Corporation (CFC) with Metropolis-FMDV. Mr. Gama has a Master in Public Administration from Harvard University’s Kennedy School of Government and has participated as a teaching assistant at Harvard University as well as an international professor to master program students in different countries. He has a Bachelor degree from the Monterey Institute of Technology and Higher Education in Mexico.
  • Nicola Saporiti

    Senior Investment Officer
    Nico Saporiti is a Senior investment Officer in IFC's Public Private Partnerships Advisory group (part of the World Bank Group). He recently moved to Istanbul from Washington DC. His professional and transaction experience at IFC is focused on power generation (hydropower in particular), water and electricity utilities. Nico is C3P's Global Specialist for the water sector, a knowledge management and business development function. Nico joined IFC in 2005 after a one-year stint in the World Bank's Latin America's infrastructure team. Before IFC, he worked for Siemens Power, ENEL (one of Europe’s largest integrated electricity utilities) and SAUR (a French water and power utility), working on the assessment and management of infrastructure investments in Europe and Africa. Nico holds a Masters in Civil Engineering with a specialization in Water from Politecnico di Milano University in Italy (1997), an MBA from IMD in Lauranne, Switzerland (2002) and a Certificate in Financial Engineering from the Swiss Finance Institute (2009). He is fluent English, Spanish and French (with a strong Italian accent), speaks some German and Portuguese and is currently studying Turkish.
  • Giulia Pivetti

    Municipal Finance Analyst
    Giulia Pivetti joined the World Bank in 2014 as Municipal Finance Analyst to support the City Creditworthiness Initiative and coordinate the organization of the Creditworthiness Academies and the implementation of the post-Academy programs. She has previously worked for several agencies of the United Nations, including the Secretariat in New York, the United Nations World Tourism Organization in Madrid and the United Nations Capital Development Fund in Dar es Salaam with responsibilities for program coordination and supervision, project management and resource mobilization. She holds a Master Degree in Economics and Management of Public Administrations and International Institutions and a Bachelor Degree in Economics of International Development and Cooperation.
  • Stephen Karam

    Lead Urban Economist
  • Mustafa Alver

    Operations Officer
  • Turda Ozmen

    Municipal Finance Advisor
  • Mihaly Kopanyi

    Municipal Finance Advisor
  • Alper Oguz

    Sr. Financial Sector Specialist
  • Ali Turel

    Professor of Urban Planning
Event Details
  • When: April 11-15
  • Where: Latanya Hotel - Ankara, Turkey
  • CONTACT: Mustafa Alver