Formation of Project Financing Structure in the Implementation of Infrastructure Projects in Russia

Abstract

The article examines the structure of infrastructure projects participants implemented on the terms of project financing in Russia. The analysis of the factors influencing formation of project financing structure in Russia at present is carried out. The dynamics of the volume of financial resources attracted by projects implemented on the terms of project financing in Russia is presented. Using the example of infrastructure projects implemented according to the project financing methodology, features of structure formation of the of project financing participants in Russia are revealed. A brief description of the project sponsors and public partners in projects implemented in the form of public-private partnerships, contractors and counterparties, creditors, multilateral development banks and insurers involved in the formation of project financing structures in Russia is given. The structure of potential participants in infrastructure development projects in Russia depending on the possibilities of attracting their financial resources is presented. It is concluded that at present, Russia has formed a circle of potential participants in infrastructure projects implemented on the terms of project financing, and the mechanisms of their interaction. More active involvement of the subjects of the Russian Federation and municipalities to participate in project financing structures will allow scaling up the use of this project implementation technology for medium-sized infrastructure projects and projects of local significance, increasing the efficiency of regional and municipal investments, and activating public-private partnership mechanisms at the municipal level.