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นวัตกรรมการพัฒนารายได้
ขององค์กรปกครองส่วนท้องถิ่น

analysis. Therefore, it is proposed to increase the representatives of local
parties and experts in the field of credit analysis to consider such loans in the

committee. The credit experts will help consider the suitability and feasibility of
local fiscal capability to prevent problems with fiscal discipline. Local delegates
will help the committee understand the necessity and importance of obtaining
approval to receive funds to finance such projects.

= To improve the central rules for the loans and local bonds. The clear and
concise rules to facilitate all local governments on loans and bonds will set the
same standard and make the operations easy to be managed and monitored.

Importantly, the criteria for the approval of loans should take the fiscal and
benefit into account based on the principle of public debts. The development of

mechanisms to oversee the expenditures must be reasonable and effective.
The federal agency should also provide particular consulting and training to
local governments in order to administer the loans and bonds effectively, but
not take over the control of local governments. The laws and regulations limiting

local governments’ opportunity to make loans or issue bonds should be
amended. However, the practice must be set on the basis of transparency,

clarity, accuracy, conciseness under the proper laws.

= Under the terms of the loan, the rule for the supervision and monitoring of local
government’s debt is to maintain the fiscal stability without exceeding debts.

The study found that many local governments in abroad are in certain
indebtedness, or in the failure of managing bonds resulting in a negative impact
on the fiscal status. This can be resolved by imposing conditions on “Debt
ceiling” to avoid exceeding debts that spoil fiscal discipline in the future. The

limit of making loans by “Types of project” should bring benefits in the long run
with future returns to repay the principal and interest.

3) Suggestions for Organization’s Performance

= A “Guide to the Loans of Local Governments” with the trainings is to provide
officials in the management and operational level a deeper understanding about

the rules and procedures of loans. Bonds are more complicated than loans from
financial institutions. Therefore, it is necessary to have trainings in relevant
knowledge to understand the principle, method of operation, and limitation.

= The establishment of consultants or agencies is to help local governments with
investment, debt management, and local bonds.