Private Financing of PPP Projects in Russia: Possibilities and Risks
A. E. Pastukhanov
Lomonosov Moscow State University
Keywords: государственно-частное партнёрство, инфраструктурные облигации, концессионные облигации, банковское кредитование, собственные средства, источники финансирования, риски финансирования, государственное участие, Public private partnership, infrastructural bonds, concessionary bonds, bank crediting, internal funds, financial resources, financial risks, state participation
Abstract
This article is devoted to the analysis of using internal funds, bank crediting, issue of concessionary bonds for financing PPP projects in Russia. It is shown, that nowadays private financing of PPP projects deals with a systemic crisis in Russia, which is characterized both by the lack of long money and financial stability of private partners and also imperfection of the legal framework. Moreover, there is a problem with inefficient regulation of non-credit institutions investments and a lack of mechanism to attract investments into PPP projects. In this regard for the further development of PPP projects the effective measures, concerning the legislation for attraction of private investments into different PPP projects and economic actions to encourage the increase of long money in economy are required.
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