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Guidelines on Local Government Borrowing

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This publication contains best experiences available in the region of South East Europe in debt financing and managing complex capital investment projects.
Improved information is intended also to lead to proposals for changes in laws and regulations that are restricting local borrowing in some countries. In this guide the project team analyzed recent trends (2010) in local government borrowing in Albania, Bulgaria, Croatia, Kosovo, Macedonia, Moldova, Montenegro, Republika Srpska – BiH, Romania, Serbia and Turkey.

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  • About this project 27.12.2010

    This project intends to share best experiences available in the region of South East Europe in debt financing and managing complex capital investment projects, and thus support capacity development of both advanced and less advanced local governments. Improved information is intended also to lead to proposals for changes in laws and regulations that are restricting local borrowing in some countries.

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  • Summary 27.12.2010

    Implementation of local governments’ investment projects depends on their ability to raise the necessary funds from a combination of own resources and external financing.

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  • General financial framework of local governments 27.12.2010

    General financial framework of local governments

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  • Local borrowing case-studies 27.12.2010

    The nine local government units from the region around city of Uzice have agreed on the construction of an EU-standard sanitary landfill called “Duboko” for solid waste to serve their residents. The project further includes a waste separation line at the landfill site, the construction of waste transfer stations in each of the local government units, and closure of existing dumpsites in each of them.

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  • Acknowledgements 21.12.2010

    Implementation of local governments’ investment projects depends on their ability to raise necessary funds from a combination of own resources and external financing. Debt financing enables municipalities to carry out more infrastructure projects in a shorter time period as compared to the financing from own funds. However, the risks associated to borrowing have to be well understood and documented in terms of their potential impact on local budget in the future.

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