View Research by Author - Victor Cionga

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This report examines the creditworthiness and capacity to borrow of municipalities in Romania. It summarizes principal findings and recommendations of the study, examines the intergovernmental financing system and aggregate, local-government finances in Romania. Also addressed are the legal framework and principal legal issues affecting local government's financial condition and creditworthiness. The report also summarizes the local-level analyses that were carried out for four larger municipalities and their corresponding regii autonomes and judets.

The U.S. Agency for International Development and EBRD have been cooperating with the government of Romania to develop a workplan to help create a Municipal Credit Facility (MCF) that would lend to general-purpose local governments (judets and municipalities) and local service enterprises (regii) to finance investments in infrastructure. This initial phase involves an analysis of the current financial condition of eight general-purpose local governments in urban regions to assess the credit worthiness of municipalities and judets as potential borrowers from the MCF. Included are analyses of the operations of the regii.

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