Acknowledgements
About the project
Summary
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Basic Principles of Local Government Borrowing
Background, Issues and Challenges
How to Finance Capital Items? Current Revenue or Debt Financing?
Debt Management
What to consider in the national legislation?
General Financial Framework of the local governments in the region
Municipal Authority to Borrow
Borrowing provisions
Local debt guarantees and pledges
Which debt instrument is suitable?
Bank Loans
National and international development program loans
Municipal Bonds
Local Government's Creditworthiness Assessment
Economic Risk
Political Risk
Financial Risk
Determining Local Government Borrowing Capacity
Local Government Debt Statistics in South East Europe
Improving Financial Management Performance
Sound Financial Management for Improving Creditworthiness
Credit Rating
How to find and select the lender
Financial institutions specialized in lending to local governments
How could local governments increase their chances to borrow
How to develop the tender documentation for a loan
Securing liquidity for EU-funded projects' implementation
How to manage the credit?
Types of loans and their recommended uses
Debt management practices and recommendations
How local government associations can help improve the local debt legislation and credit market
In relation to lenders
In relation to member local governments
IIn relation to central governments
In relation to Parliaments
In relation to donors and international financial institutions
Glossary
Local borrowing case-studies
General financial framework of local
Local governments' creditworthiness
Local borrowing guide in different NALAS languages
Member associations' initiatives