Download in UkrainianAs Ukraine's municipalities seek additional resources to finance reconstruction, infrastructure projects, and local development, strengthening the municipal borrowing framework is becoming increasingly important. This publication, prepared by experts of the Polaris Programme together with researchers from the Institute for Economics and Forecasting of the National Academy of Sciences of Ukraine, examines the key challenges and opportunities for enhancing municipal borrowing in Ukraine.
The publication presents the key findings and recommendations from the focus group on enhancing municipal borrowing in Ukraine. It highlights the potential of municipal borrowing to support infrastructure investment and local development while emphasising that the current municipal borrowing framework needs to be strengthened to improve hromadas' access to financing.
The recommendations focus on simplifying borrowing procedures, increasing transparency, and establishing a more efficient and predictable framework for local governments. Particular attention is given to strengthening municipalities' access to borrowing while ensuring sound financial management, sustainable debt service capacity, and prudent risk management.
The publication provides practical recommendations for strengthening the municipal borrowing framework, improving municipalities' access to financing, and supporting the development of a sustainable municipal debt market in Ukraine.
