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Finance and Credit
 

Project finance in Russia: The status, international practices, and public-private partnership

Vol. 26, Iss. 3, MARCH 2020

Received: 16 October 2019

Received in revised form: 2 December 2019

Accepted: 16 December 2019

Available online: 30 March 2020

Subject Heading: INVESTING

JEL Classification: L32

Pages: 630–643

https://doi.org/10.24891/fc.26.3.630

Chernov A.V. Higher School of Finance and Management (HSFM), Russian Presidential Academy of National Economy and Public Administration (RANEPA), Moscow, Russian Federation
achernov001@gmail.com

https://orcid.org/0000-0003-1173-7393

Subject This article considers the issues related to project financing in Russia, its current status, foreign practices in this area, as well as in the context of public-private partnership.
Objectives The article aims to explore the current state and development of project financing in Russia and foreign countries, analyze and identify risks, and consider trends in the further development of project financing.
Methods For the study, I used the methods of comparative, logical, and statistical analyses, and graphical interpretation of information.
Results The article defines project financing, identifies risks, and denotes trends in its global and domestic development.
Conclusions and Relevance The introduction and application of public and market management models, or their combination, may be an incentive for further development of project financing. Today, the most promising direction is the use of project financing as a method of financing investment activities. The results of the study are theoretically relevant for further research into the financing of infrastructure projects in Russia.

Keywords: project-tied lending, public-private partnership, investment project, infrastructure

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