IBSER and “Ukrtekhpromleasing”
22 April 2010
IBSER and “Ukrtekhpromleasing” Company Sign Memorandum of Cooperation
As part of the Municipal Finance Strengthening Initiative Project, implemented with support of USAID, the Institute of Budget continues looking for partners in testing innovative financial mechanisms for realization of local infrastructure development projects, in particular those in the field of energy saving. Therefore, IBSER signed a Memorandum of Cooperation with TOV “Ukrtekhpromleasing” company on 22 April 2010.
In its operations, TOV “Ukrtekhpromleasing” is using the provisions of the Commercial Code of Ukraine, Civil Code of Ukraine, and Law of Ukraine “On Financial Leasing” approved on 16 December 1997, No. 723/97-BP.
“Financial leasing" (rental) means an economic transaction conducted by an individual or a legal entity, which provides for transfer under financial leasing agreement of a property to the lessee, which property is categorized as capital asset and was either acquired or produced by the lessor, and transfers all the risks and benefits entailed in the right of use or possession of the leased property.
Leasing transactions are commonly used in other countries for implementation of public-private partnership projects. Taking this into account, IBSER has expanded the circle of partners, which can be engaged in collaboration in this area, through implementation of one of the MFSI Project components.
Glyanec