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PROSPECTS FOR PROJECT FINANCE IN THE INFRASTRUCTURE PROJECTS

https://doi.org/10.17747/2311-7184-2016-3-2

Abstract

This paper examines key characteristics of infrastructure projects and the challenges that involves its funding today.  Author analyzes the regulatory and economic prerequisites for using project financing of infrastructure on the Russian equity market. We consider the funding of infrastructure projects through the bond loan scheme, the possibilities and limitations of its practical usage. In particular, paper describes form of securitization through issuing bonds secured by the pledge of claims that will arise as a result of long-term investment project.

About the Authors

A. I. Dedialo
Financial University under the Government of the Russian Federation
Russian Federation


A. V. Filushina
Financial University under the Government of the Russian Federation
Russian Federation

Scientific adviser, lecturer at the Department of Strategic and Crisis Management 



References

1. Гражданский кодекс Российской Федерации (часть первая) от 30.11.1994 No 51-ФЗ (в ред. от 02.11.2013);

2. Федеральный закон «О рынке ценных бумаг» N 39-ФЗ от 22.04.1996 (ред. от 30.12.2015);

3. Федеральный закон «О внесении изменений в отдельные законодательные акты Российской Федерации» № 379-ФЗ от 21.12.2013;

4. Филюшина А. В. «Инновационные инструменты антикризисного регулирования» // Управленческие науки №4. — Финуниверситет. №4(17), 2015;

5. Джо Ватт, Ивлев А.В. // Ernst and Young Russia infrastructure survey 2014: Курс 2030: исследование развития инфраструктуры в России, 2014;

6. Frank Beckers // Symbulos Infrastructure Consultancy External Adviser to McKinsey & Company: New approach to infrastructure PPP, 2015;

7. Brian Scott-Quinn // Intrernational Capital Market Association: Guide to infrastructure financing: Bank loans, debt private placements and public bonds – smoothing the pathway for effective funding, 2015;

8. Torsten Ehlers. Understanding the challenges for infrastructure finance/ Torsten Ehlers - BIS Working Papers No 454, 2014.


Review

For citations:


Dedialo A.I., Filushina A.V. PROSPECTS FOR PROJECT FINANCE IN THE INFRASTRUCTURE PROJECTS. Business Strategies. 2016;(3):2. (In Russ.) https://doi.org/10.17747/2311-7184-2016-3-2

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ISSN 2311-7184 (Online)