The report benchmarks the regulatory framework of 135 economies against international recognized good practices, scoring them on four elements: preparation, procurement, contract management, and treatment of unsolicited proposals.

Despite a world awash with liquidity, large infrastructure supply gaps exist across developing and emerging markets. Infrastructure has been largely decentralized to subnational governments (SNGs) in many countries. Many policymakers are keenly interested in developing subnational bond markets to give SNGs access private financing for infrastructure. Despite this, the transaction costs of bond issuance are still prohibitive for small SNGs to access financing.