Environment in emerging and transition economies

Local capital markets for environmental infrastructure


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ISBN Number: 9264035966
Publication Date: 24 January 2006
Pages: 254
Number of tables: 54
Number of graphs: 4


Local Capital Markets for Environmental Infrastructure

Transition and emerging economies have difficulties developing their financial markets to a level that would provide access to long-term debt finance at an affordable cost. This report examines opportunities beyond the public sector for financing water and other environmental infrastructure. Specifically, opportunities for accessing savings through private financial and capital markets have been examined. The report identifies bottlenecks to the development of local financial markets for environmental infrastructure and discusses policy recommendations to tackle them.


This publication is part of the OECD programme of work with non-member economies, in the context of the Task Force for the Implementation of the Environmental Action Programme for Central and Eastern Europe, the Caucasus and Central Asia (EAP Task Force). It is directly related to a series of projects that advise governments in the region on policies aimed at strengthening environmental finance and the financial sustainability of environmentally-related utilities.

Executive Summary

Table of Contents

  • Foreword
  • Executive Summary
  • Part I. Local Credit Markets and Environmental Investment: Lessons Learnt from Economies in Transition
    - Introduction
    - Local borrowing in support of urban environmental investment
    - Three key requirements
    - Developing local credit markets for environmental investment
    - References
    - Developing local credit markets for environmental investment
  • Part II. Country Case Studies
    - China
    - Kazakhstan
    - The Russian Federation
    - Ukraine

How to obtain this publication

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