The Multilateral Cooperation Center for Development Finance (MCDF) has launched a new digital handbook to help practitioners navigate the challenges of financing development and infrastructure in a sustainable, efficient, and transparent way. 

Sustainable Financing of Development and Infrastructure: A Handbook for Borrowers and Lenders provides insights for ensuring the fiscal sustainability of development financing. It does so through a practical and actionable approach, enriched with examples from around the world.

Based on two editions of a flagship MCDF workshop series, the handbook covers the entire public debt process—from borrowing, liability management, and contingent liabilities to fiscal risks, disclosure, and legal frameworks. In an easy-to-understand style, it offers answers to perennial public finance questions:

• How much debt is too much debt?
• How and when it is best to borrow?
• How should debt portfolios be optimized?
• What methods exist to hedge fiscal risks and contingent liabilities?
• What is special about infrastructure financing?
• What accounting, disclosure, and legal standards and frameworks work best—and matter most—in each country context?
  

“Increased awareness and application of international standards and best practices are important for ensuring the fiscal sustainability of development financing, in general, and of connectivity infrastructure, in particular,” noted MCDF CEO Zhongjing Wang.

“The future of public finance hinges on the capacity of practitioners to discern what works, what doesn't, and why,” added Marcelo Giugale, a Georgetown University professor and the handbook’s editor. “Considering the entire debt process and incorporating the views of both official borrowers and lenders are key. The MCDF handbook does that,” he concluded.

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David Hendrickson
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david.hendrickson@themcdf.org