Royalty Innov

completed

The project focuses on transferring IFC Revenue Management methodologies to local governments enabling them to be better positioned to prepare public investment projects, meeting the requirements of the new Colombian General Royalty System (GRS) and, to effectively obtain resources for Basic Infrastructure and Local Economic Development. The project will promote innovation and competitiveness through those public investment projects. The project will support local governments through four components: 1) Update Revenue Management tools designed by IFC to accommodate to the rules of the GRS. 2) Identify target municipalities and their key public investment projects. Feedback in Basic Infrastructure and Local Economic Development projects will be provided by experts to the municipal teams. 3) Work with Municipalities, consisting of a first stage of regional workshops focusing on the GRS and the process of preparing public investment projects under the Colombian methodology MGA and, a second stage of hands-on training in the field to fully develop quality public investment projects ready to be submitted to the GRS. 4) Capacity building for Local Technical Assistance Providers to deploy Revenue Management methodologies for replication once the project ends.