Comments Kaspar Richter SRSS, European...
Transcript of Comments Kaspar Richter SRSS, European...
SRSS
Creating conditions for effective public investmentSubnational capacities in a multi-level governance context
Comments
Kaspar Richter SRSS, European Commission
Workshop24 January Brussels
• Important topic: potential benefits of boosting public
investment (demand side, supply side, fiscal risks) rely on
effective management
• Paper identifies subnational capacities and provides approach
for assessing and strengthening such capacities
• Three questions:
• How do OECD, IMF & World Bank frameworks compare?
• How to assess capacities?
• What are recent Commission initiatives for strengthening capacities of Member States?
Contributions of the paper
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• Common focus on stages of investment cycle
• Some differences:
• IMF: macro-fiscal dimension
• World Bank: independent review; operations
How do OECD, IMF & WB frameworks compare?
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• Best practice versus must-haves
• What priorities for large cities, what for rural municipalities?
How to assess capacities?
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• Three pillars of investment plan, recently evaluated
• 1. Pillar: effective in mobilizing private capital but benefit
mostly to MS with more developed financial markets and
conducive business environment
• 2. Pillar: Hub provides assistance to get projects off the
grounds but local and regional outreach needs to be
improved and MS planning and coordination structures to be
strengthened
• 3. Pillar: EU priority initiatives; MS barriers to investments;
implementation support via SRSS
What are recent EU Commission initiatives on strengthening MS capacities?
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