This World Bank Discussion Paper brings together two contributions on external debt issues. The first paper discusses the insurability of sovereign debt against default. The second paper reviews numerous studies that have been conducted over the years to identify the variables that could predict...

Private and public sector sponsors of infrastructure, industrial and other commercial projects in developing countries are looking increasingly to the project finance structure to fund these operations. The World Bank has an array of financial instruments to support these projects. This paper...

The objective of this study is to help assess the possible vulnerabilities in a number of Central European countries as they proceed with global financial integration and EU accession. The report focuses on those countries slated to be the first in the region to join the EU, the Czech Republic,...

The main objective of this report is to evaluate World Bank lending for small enterprises between FY89 and FY93, including both small and medium enterprises and microenterprises. There has been a marked shift in the Bank's work in this area, and this review details the nature and content of this...

This joint report on MDB Climate Finance captures a particular context of activities that Multilateral Development Banks (MDBs) carry out in developing and emerging economies. The context is built on the premise that development finance is being provided in a world shaped by climate change. This...

In the coming decades, climate change will force cities to grapple with new operating conditions to construct and maintain key urban infrastructure. Strategies for covering the costs of climate-resilient upgrades will vary by locale, reflecting differing market, regulatory, and policy...