| dc.description.abstract |
This note is second in the sequence of “Municipal Bond Financing” series, specifically designed and written to give readers a brief idea about municipal bond financing in Pakistan and also its application and performance in comparison to its neighboring countries. This note, at the beginning, discusses the context and circumstantial realities that justify the need of municipal bond financing in Pakistan, given the continuously increasing requirements of urban infrastructure project financing coupled with the significant changes that happened to the overall governance structure, including different tiers of governments, in Pakistan. It also gives the reader a quick view of the bond market in general and discusses its different components including but not limited to municipal bonds. Finally, this note discusses in detail the major frictions creating hurdles for Pakistan in its way to a developed municipal bond market, conjugated with probable solutions and policy recommendations. |
en_US |