Developing a Sustainable Financing Model for Urban Projects with Emphasis on Risk Management, Financial Performance, and Financial Reporting Transparency: A Case Study of Tehran Municipality

Urban infrastructure development requires massive capital outlays, often exceeding the budgetary capacities of municipal governments. In the context of Tehran Municipality, traditional financing methods face challenges due to inflation, liquidity constraints, and fiscal volatility. This paper aims to develop a sustainable financing model by synthesizing existing literature on urban finance, risk mitigation, and financial reporting. Utilizing a systematic review methodology, the study examines various financing instruments—including Public-Private Partnerships (PPPs), Municipal Bonds, and Value Capture Financing—and evaluates them against the criteria of risk management, financial performance, and reporting transparency. The proposed conceptual model suggests that sustainability in urban financing is contingent upon a tripartite synergy: diversified funding sources, robust risk-hedging mechanisms, and high-quality, transparent financial reporting to maintain stakeholder trust.

کلیدواژه ها:

Sustainable Urban Financing ، Risk Management ، Financial Performance ، Financial Reporting Transparency