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Remarks to first conference on capital markets development at the subnational level by James D. Wolfensohn (英语)

This transcript discusses the access to funds and in terms of the volume of funds that are needed for appropriate development purposes. He sees a move towards decentralization of responsibilities, and a parallel move to urbanization. That means we need to prepare ourselves in the way in which we set up the issues of governance, the issues of transparency, and the basicframework in which local authorities will operate.