Subject The article provides a rationale for the role of project financing in sustainable economic growth of the Far East through new forms of spatial distribution of productive forces, namely priority social and economic development areas. Objectives The aims are to analyze tools for stimulating regional development by means of creation of territories with special business regimes; to reveal specifics of project financing, determining its paramount importance in implementing the priority development area project and setting-up centers and axes of growth in the Russian Far East. Methods The study rests on empirical research methods (comparison, description, measurement) and general logical methods (generalization, induction, systems approach, statistical methods and techniques. Results We substantiate the priority use of project financing as a source of investment project realization by residents of priority development areas. The paper includes estimation of needs of priority development area investment projects for borrowed funds, and their conformity to available resources of specialized funds and targeted bank loans (on the Sberbank of Russia case). Conclusions The formation of the institution of priority development area rests on basic concepts of regional growth. We define the specifics of project finance, which provides for its priority use as a financial resource to implement investment projects for priority development areas.
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