World Bank Group's Subnational Development Program
The World Bank Group's Subnational Development Program (SND) provides financing and access to capital markets to local governments (municipalities, provinces, regions) and their public companies. It acts as a catalyst to enhance their capacity and creditworthiness without central government guarantees. SND helps sub-national entities to expand and improve infrastructure and other public services. Financial products include guarantees, loans, or equity investments, and may be available in local currency. Local governments and public companies can manage the investments directly or in the context of public-private partnerships.