Fund For Local Authorities and Governments in Bulgaria - Nalas
Fund For Local Authorities and Governments in Bulgaria - Nalas
Fund For Local Authorities and Governments in Bulgaria - Nalas
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Offsett<strong>in</strong>g the borrow<strong>in</strong>g costs<br />
Objective: to offset the borrow<strong>in</strong>g costs of resource-poor<br />
municipalities<br />
Source: earmarked transfer from state budget for 2009<br />
Amount – BGN 20 million<br />
Access criteria – based on 3 <strong>in</strong>dicators: net operat<strong>in</strong>g<br />
surplus; available local resources for debt repayment<br />
per capita <strong>and</strong> share of municipal own revenues <strong>in</strong> the<br />
municipal budget<br />
Offset levels:<br />
- 50% of the borrow<strong>in</strong>g costs of 131 local governments<br />
<strong>and</strong><br />
- 100% of the borrow<strong>in</strong>g costs of 93 local governments.
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