Guidelines on Local Government Borrowing and Recent Developments in South East Europe
8. How local government associations can help improve the local debt legislation and credit market

Local government associations are voluntary membership organizations, which comprise local governments from within a country or region, acting as an effective and authoritative advocate on members’ behalf in relation to central government, the parliament, potential investors and other stakeholders. With regard to local public debt local government associations should aim to (i) create and/or improve appropriate legislation, (ii) monitor the impact of relevant legislation, (iii) provide information and statistics to potential lenders, central government and other stakeholders and (iv) assist member local governments to develop and improve debt management plans and operations. To these ends, local government associations will concentrate their actions as follows:

A. In relation to lenders mediating communication and information flows between local governments and potential investors

B. in relation to member local governments providing assistance to members in structuring and financing investment; maintaining ongoing communication with member local governments to set/develop best practices in accordance with international standards

C. in relation to central governments and parliaments to lobby and campaign for changes in policy, legislation and funding on behalf of its members.