The article emphasizes that consideration of interests and possibilities of contributing to economic initiatives, rational distribution of risks and revenues, i.e. all that characterizes project financing, can become a base of attracting high-quality investments in the Russian economy, in which it requires. We have studied the correspondence of rates of economic development, volumes of foreign investments, net capital outflow and volumes of project financing in the economy of the Russian Federation. We indicate deterioration of a number of macroeconomic parameters and general recession in the national economy development in 2011-2013, negative influence of introduced economic sanctions of the USA and the EU against our country on major economic indicators at the beginning of 2014, as well as worsening of their medium-term outlook. We state an adverse background consisting of negative expectations, increasing sovereign risks and reducing investment opportunities round the Russian economy. On the basis of studied dynamics of volumes of foreign investment, project financing and capital outflow, we conclude that in difficult financial conditions the structuring of investments within the framework of project financing provides initiators of project with relative advantages in comparison with traditional ways, i.e. debt financing and increase in share capital. We have established that at Quarter I, 2014 end, there is no negative influence of Russia's rating downgrade on the ability of the domestic companies to attract project financing. The Russian economy continues to be attractive for project financing, and it is possible to solve existing problems and mitigate risks only on a mutually advantageous basis, considering the multidimensionality of modern economic relations and adhering to pragmatic and rational approach to assessing benefits and barriers of economic interaction.
Keywords: investment appeal, GDP growth rates, foreign investment, capital outflow, project financing
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