NAB
26 December 2013
National Advisory Board Meeting
On December 24, 2013, the National Advisory Board (NAB) held the meeting on effective pubic finance management in the framework of the Municipal Finance Strengthening Initiative (MFSI-II) Roll-Out. The representatives of the Ministry of Finance of Ukraine, State Treasury Service of Ukraine, local financial authorities, scientific circles, international expert environment, public sector and other leading experts in the sphere of regional and local development participated in the meeting.
Within the meeting, the participants approved the offers of MFSI-II experts aiming at improving the PPB methodology and legislative basis. These changes will allow settling problems, which may arise when forming local budgets based on the PPB.
MFSI-II experts also introduced for discussion offers how to settle issues, which arise when implementing loan-financed energy effective projects. Especially, the current situation arise certain risks of local debt repayment with the saved energy resources funds resulted from these projects. The participants of the meeting agreed that the issue was of high importance and it would be necessary for MFSI-II experts to develop the respective regulatory act. Settling this issue will allow fulfilling the terms and conditions of the loan for the implementation of the energy effective projects, and improve solvency of the Ukrainian cities and budget sphere energy efficiency.
Within the meeting, the participants approved the offers of MFSI-II experts aiming at improving the PPB methodology and legislative basis. These changes will allow settling problems, which may arise when forming local budgets based on the PPB.
MFSI-II experts also introduced for discussion offers how to settle issues, which arise when implementing loan-financed energy effective projects. Especially, the current situation arise certain risks of local debt repayment with the saved energy resources funds resulted from these projects. The participants of the meeting agreed that the issue was of high importance and it would be necessary for MFSI-II experts to develop the respective regulatory act. Settling this issue will allow fulfilling the terms and conditions of the loan for the implementation of the energy effective projects, and improve solvency of the Ukrainian cities and budget sphere energy efficiency.
Glyanec