Financial Analytics: Science and Experience

Project finance as a tool of Russia's integration into global economy

Vol. 10, Iss. 3, MARCH 2017

PDF  Article PDF Version

Received: 23 November 2016

Received in revised form: 8 December 2016

Accepted: 15 December 2016

Available online: 15 March 2017

Subject Heading: Economic policy

JEL Classification: F34, G21, G24

Pages: 331-342

Burtseva K.Yu. Financial University under Government of Russian Federation, Moscow, Russian Federation

Ogloblina V.V. Financial University under Government of Russian Federation, Moscow, Russian Federation

Importance The article investigates mechanisms for integration of the Russian banks in the global market of project finance through their membership in international organizations.
Objectives The research finds out possible development paths of the project finance market in Russia. We perform a comprehensive analysis of benefits the Russian economy may have if national banks join the international organization of project finance.
Methods We applied methods of statistical and comparative analysis, classification and modeling techniques.
Results The article determines the significance of project finance to develop key sectors of the national economy, structure of the segment and the role of the existing international organizations. We analyzed possible opportunities of the Russian economy if the Russian banking sector joins the Equator Principles Association.
Conclusions and Relevance To ensure successful development of economy through project finance, the Russian banks should participate in international organizations so to disseminate their expertise, attract funding and protect national interests. Considering the large scale of funded projects and numerous participants involved into international organizations of project finance, the Russian banks should not abstain from outlining the respective policies. The findings can be used to formulate policies of the national banking sector.

Keywords: bank, project finance, Equator Principles Association


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