What can be learnt from Dakar’s failed attempt to launch a municipal bond?

This work was carried out under the Infrastructure and Cities for Economic Development (ICED) facility.

ICED supported DFID country offices, central teams and ODA-spending Other Government Departments to deliver DFID’s Economic Development Strategy by scaling up programming and investment in infrastructure and cities. It operated between February 2016 and July 2019.

In 2015, Senegal’s central government blocked Dakar’s first municipal bond launch, a pioneering transaction supported by the World Bank. ICED considered what happened as part of an evidence review to inform DFID’s new Cities and Infrastructure for Growth programme and identified three key lessons for technical programming.

Published

29/01/18

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Finance and investment
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