Research of efficient use of financial instruments for restoration and development of territorial communities of Ukraine

The article is devoted to substantiating effecient use of existing and new financial instruments for restoration and development of territorial communities (TCs) in Ukraine. Scientific and theoretical approaches to structuring financial instruments for development of TC are investigated. It is noted that in the context of imbalances in socio-economic development of TCs, significant destruction of the local economy and critical infrastructure, forced migration of residents or acceptance of internally displaced persons by the community, it is necessary to substantiate possibilities of attracting new and effective use of existing financial instruments for restoration and development of TCs. Existing and new financial instruments for restoration and development of territorial communities were structured. Financial instruments of budgetary support, taxation instruments, loans, investments, financing of mine clearance, and digital financial instruments are highlighted. The analysis of efficiency indicators of using these instruments is carried out. It is indicated that, given current state of socio-economic development of the TG, the most effective are investment instruments, demining financing instruments and digital financial instruments. To attract domestic and foreign investment, it is necessary to develop investment maps and investment projects in interactive format at the ATC level to help potential investors learn about available investment opportunities and community development prospects. Increasing the number of investors requires development of international municipal partnerships and private-municipal partnerships. Widespread use of digital financial instruments requires, first and foremost, development of the financial, information and digital infrastructure of the TCs. Implementation of financial instruments discussed in this article will improve financial capacity of TCs, involve not only investors and creditors but also community residents in solving socio-economic problems of their recovery and further development.