ɫɨɬɪɭɞɧɢɱɟɫɬɜɟ ɫ ɝɨɫɭɞɚɪɫɬɜɚɦɢ-ɱɥɟɧɚɦɢ ȿɋ. ɉɨɥɧɨɦɨɱɢɹ ɩɨ ɢɫɩɨɥɧɟɧɢɸ ɛɸɞɠɟɬɚ Ʉɨɦɢɫɫɢɹ ɦɨɠɟɬ ɞɟɥɟɝɢɪɨɜɚɬɶ ɨɬɞɟɥɶɧɵɦ ɨɪɝɚɧɢɡɚɰɢɹɦ,
ɱɟɬɤɨ
ɨɩɪɟɞɟɥɢɜ ɫɮɟɪɭ ɢ ɨɛɴɟɦ ɩɟɪɟɞɚɧɧɵɯ ɩɨɥɧɨɦɨɱɢɣ, ɨɛɨɫɧɨɜɚɜ ɩɪɢ ɷɬɨɦ ɧɟɨɛɯɨɞɢɦɨɫɬɶ ɬɚɤɨɝɨ ɞɟɥɟɝɢɪɨɜɚɧɢɹ, ɚ ɬɚɤɠɟ ɨɛɟɫɩɟɱɢɜ ɤɨɧɬɪɨɥɶ ɧɚɞ ɢɫɩɨɥɧɟɧɢɟɦ ɩɟɪɟɞɚɧɧɵɯ ɩɨɥɧɨɦɨɱɢɣ. Ɍɚɤɢɦɢ ɨɪɝɚɧɢɡɚɰɢɹɦɢ ɦɨɝɭɬ ɛɵɬɶ: ɫɩɟɰɢɚɥɶɧɨ ɫɨɡɞɚɧɧɵɟ Ʉɨɦɢɫɫɢɟɣ ɨɪɝɚɧɵ, ɤɨɬɨɪɵɟ ɮɨɪɦɢɪɭɸɬɫɹ ɫɩɟɰɢɚɥɶɧɨ ɞɥɹ ɪɟɚɥɢɡɚɰɢɢ ɩɪɨɟɤɬɚ/ɩɪɨɝɪɚɦɦɵ ɢɥɢ ɟɟ ɱɚɫɬɢ; ɫɭɳɟɫɬɜɭɸɳɢɟ ɨɪɝɚɧɵ ɭɠɟ ɫɨɡɞɚɧɧɵɟ Ʉɨɦɢɫɫɢɟɣ ɢɥɢ ɫɩɟɰɢɚɥɶɧɵɟ ȿɜɪɨɩɟɣɫɤɢɣ
ɂɧɜɟɫɬɢɰɢɨɧɧɵɣ
Ȼɚɧɤ
ȿɜɪɨɩɟɣɫɤɢɣ
ɂɧɜɟɫɬɢɰɢɨɧɧɵɣ
ɨɪɝɚɧɵ Ʉɨɦɢɫɫɢɢ, ɬɚɤɢɟ ɤɚɤ
(European
Ɏɨɧɞ
Investment
(European
Bank)
Investment
ɢɥɢ
Fund);60
ɧɚɰɢɨɧɚɥɶɧɵɟ ɨɪɝɚɧɵ ɝɨɫɭɞɚɪɫɬɜɟɧɧɨɝɨ ɫɟɤɬɨɪɚ ɢɥɢ ɨɪɝɚɧɵ ɱɚɫɬɧɨɝɨ ɫɟɤɬɨɪɚ, ɢɦɟɸɳɢɟ ɦɢɫɫɢɸ ɝɨɫɭɞɚɪɫɬɜɟɧɧɨɣ ɫɥɭɠɛɵ. ȼɧɟɫɟɧɧɵɟ ɜ ɞɟɤɚɛɪɟ 2006 ɝ. ɩɨɩɪɚɜɤɢ ɜ Ɏɢɧɚɧɫɨɜɵɣ ɪɟɝɥɚɦɟɧɬ ɩɨɡɜɨɥɢɥɢ ɞɟɥɟɝɢɪɨɜɚɬɶ ɩɨɥɧɨɦɨɱɢɹ ɩɨ ɢɫɩɨɥɧɟɧɢɸ ɛɸɞɠɟɬɚ ɥɢɰɚɦ, ɤɨɬɨɪɵɦ ɞɨɜɟɪɟɧɨ ɢɫɩɨɥɧɟɧɢɟ ɨɬɞɟɥɶɧɵɯ ɞɟɣɫɬɜɢɣ ɜ ɪɚɦɤɚɯ ɝɥɚɜɵ 5 ɋɨɝɥɚɲɟɧɢɹ ɨ ȿɜɪɨɩɟɣɫɤɨɦ ɋɨɸɡɟ.61 ɉɨ ɨɛɳɟɦɭ ɩɪɚɜɢɥɭ Ʉɨɦɢɫɫɢɹ ɧɟ ɦɨɠɟɬ ɞɟɥɟɝɢɪɨɜɚɬɶ ɩɨɥɧɨɦɨɱɢɹ ɩɨ ɢɫɩɨɥɧɟɧɢɸ ɛɸɞɠɟɬɚ ɜɧɟɲɧɢɦ ɨɪɝɚɧɢɡɚɰɢɹɦ ɱɚɫɬɧɨɝɨ ɫɟɤɬɨɪɚ, ɟɫɥɢ ɨɧɢ ɧɟ ɧɟɫɭɬ ɦɢɫɫɢɸ ɝɨɫɭɞɚɪɫɬɜɟɧɧɨɣ ɫɥɭɠɛɵ. ȼɧɟɲɧɢɦ ɨɪɝɚɧɢɡɚɰɢɹɦ ɱɚɫɬɧɨɝɨ ɫɟɤɬɨɪɚ ɦɨɠɟɬ ɛɵɬɶ ɩɟɪɟɞɚɧɨ ɩɪɚɜɨ ɩɪɨɜɟɞɟɧɢɹ ɬɟɯɧɢɱɟɫɤɨɣ ɷɤɫɩɟɪɬɢɡɵ, ɚɞɦɢɧɢɫɬɪɚɬɢɜɧɵɯ, ɩɨɞɝɨɬɨɜɢɬɟɥɶɧɵɯ ɩɪɨɰɟɞɭɪ. Ɋɚɫɲɢɪɟɧɢɟ ȿɜɪɨɩɟɣɫɤɨɝɨ ɋɨɸɡɚ, ɭɜɟɥɢɱɢɜɚɸɳɢɣɫɹ ɨɛɴɟɦ ɪɟɫɭɪɫɨɜ, ɜ ɱɚɫɬɧɨɫɬɢ, ɪɨɫɬ ɱɢɫɥɚ ɡɚɞɚɱ Ʉɨɦɢɫɫɢɢ, ɜɵɡɜɚɧɧɵɣ ɪɨɫɬɨɦ ɨɛɴɟɦɚ ɢ ɞɢɜɟɪɫɢɮɢɤɚɰɢɟɣ ɩɪɢɧɹɬɢɸ
ɧɚɩɪɚɜɥɟɧɢɣ
ɛɨɥɶɲɨɝɨ
ɱɢɫɥɚ
ɞɟɣɫɬɜɢɣ
ɢɧɫɬɪɭɦɟɧɬɨɜ
ɋɨɨɛɳɟɫɬɜɚ, ɞɥɹ
ɫɩɨɫɨɛɫɬɜɨɜɚɥɢ
ɭɩɪɚɜɥɟɧɢɹ
ɛɸɞɠɟɬɨɦ
ɋɨɨɛɳɟɫɬɜɚ. ȼ ɧɚɫɬɨɹɳɟɟ ɜɪɟɦɹ ɦɨɠɧɨ ɜɵɞɟɥɢɬɶ ɬɪɢ ɨɫɧɨɜɧɵɯ ɜɢɞɚ ɢɧɫɬɪɭɦɟɧɬɨɜ: ɞɟɰɟɧɬɪɚɥɢɡɨɜɚɧɧɨɟ ɭɩɪɚɜɥɟɧɢɟ, ɫɨɜɦɟɫɬɧɨɟ ɭɩɪɚɜɥɟɧɢɟ ɢ ɰɟɧɬɪɚɥɢɡɨɜɚɧɧɨɟ ɭɩɪɚɜɥɟɧɢɟ ɪɟɫɭɪɫɚɦɢ. 60
ɋɦ. ɫɩɢɫɨɤ ɬɟɪɦɢɧɨɜ ɢ ɫɨɤɪɚɳɟɧɢɣ. Ʌɢɰɚ, ɤɨɬɨɪɵɦ ɩɟɪɟɞɚɸɬɫɹ ɩɨɥɧɨɦɨɱɢɹ ɩɨ ɢɫɩɨɥɧɟɧɢɸ ɨɩɪɟɞɟɥɟɧɧɵɯ ɪɟɲɟɧɢɣ ɨɩɪɟɞɟɥɹɸɬɫɹ ɋɨɜɟɬɚɦ. ȼ ɱɚɫɬɧɨɫɬɢ ɱɚɫɬɶ 5 Ⱦɨɝɨɜɨɪɚ ɨ ȿɜɪɨɩɟɣɫɤɨɦ ɋɨɸɡɟ ɡɚɤɪɟɩɥɹɟɬ ɩɨɥɧɨɦɨɱɢɹ ɩɨ ɜɵɪɚɛɨɬɤɟ ɢ ɪɟɚɥɢɡɚɰɢɢ. 61
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