Financing of municipal investment within sustainable development framework

Abstract

The current policies of the territorial self-government ought to take into consideration challenges resulting from constantly changing global development processes. Adoption of modern assumptions and their consequent implementation is a pre-condition for development of the territorial self-government at the local level. It also gives ground for assumptions that implementation of the objectives set at the national or the EU levels will be successful. There is also a chance that the realization of sustainable development objectives will be getting more acceptance from the society. The concept of the sustainable development, comprising the natural environment and its resources, economic cooperation, and reinforcing social ties, is the best way to make use of the development potential. The aim of the paper is to stress the importance of development planning at the local level and to assess possibilities for communal investment in the context of sustainable development implementation. The objective of the paper is also to assess opportunities of capital raising for investment in local communities, which has a large impact on the living standard of the population. The analysis includes the scope and main directions of the self-governmental investment. The time frame covers the 2010–2016 period. The empiric material has been supplied by The Bank for Local Data of the Central Statistical Office (the “GUS”) and from analyses made by the Ministry of Finance.