Strategies for financing infrastructure projects in the sphere of public-private partnership
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- Category: Content №3 2022
- Last Updated on 29 June 2022
- Published on 30 November -0001
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Authors:
P.Kulikov, orcid.org/0000-0003-2801-4810, Kyiv National University of Construction and Architecture, Kyiv, Ukraine, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
P.Zakharchenko, orcid.org/0000-0001-9172-0940, Kyiv National University of Construction and Architecture, Kyiv, Ukraine, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
V.Lych, orcid.org/0000-0001-9024-1593, Kyiv National University of Construction and Architecture, Kyiv, Ukraine, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
R.Dymenko, orcid.org/0000-0002-6980-8038, Kyiv National University of Construction and Architecture, Kyiv, Ukraine, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
Naukovyi Visnyk Natsionalnoho Hirnychoho Universytetu. 2022, (3): 156 - 162
https://doi.org/10.33271/nvngu/2022-3/156
Abstract:
Purpose. Coverage and systematization of the main approaches to the development of strategies for financing infrastructure projects in the field of public-private partnership, in particular, in the construction sector of Ukraines economy.
Methodology. The methodological basis of the article are scientific publications, regulations of Ukraine, analytical reports of world financial institutions, Internet resources. The research used a systematic approach, methods of analysis and synthesis, comparison and logical generalization.
Findings. The most acceptable models of financing infrastructure projects and creating conditions for attracting private capital on the basis of public-private partnership in Ukraine are identified.
Originality. The work analyzes the classification of projects according to the type of source of cost financing, summarizes the experience in building contract models for their financing, explores the most common tools for financing infrastructure projects, identifies the provisions on which project financing is based, and finds out what underlies it.
Practical value. The results of the study can be useful for public authorities, which should encourage private partners to participate in long-term projects. The research may be of interest to businesses that are potential investors in public-private partnership projects.
Keywords: public-private partnership, project funding, commercial lending, subordinated debt, hedging
References:
1. Kappeler, A., & Nemoz, M. (2010). Public-private partnerships in Europe before and during the recent financial crisis. Retrieved from https://www.researchgate.net/publication/228969372_Public-Private_Partnerships_in_Europe-before_and_during_the_recent_financial_crisis.
2. Brailovsky, I.A. (2012). The current state of public-private partnership in the European Union. Effective economy, 12. Retrieved from http://www.economy.nayka.com.ua/?op=1&z=1699.
3. OECD (2014). Private Financing and Government Support to Promote Long-Term Investments in Infrastructure. Retrieved from https://www.oecd.org/daf/fin/private-pensions/Private-financing-and-government-support-to-promote-LTI-in-infrastructure.pdf.
4. Efimenko, T.I. (2012). Public-private partnership in the system of economic regulation. Monograph. Kyiv: Institute of Economics and Forecasting of the National Academy of Sciences of Ukraine. ISBN978-966-02-6674-2.
5. Frolov, S.M. (2013). Financial aspects of public-private partnership. Economics of development, 4, 18-22.
6. Hallak, I. (2013). Private sector share of external debt and financial stability: Evidence from bank loans. Journal of International Money Finance, 17-41. Retrieved from http://linkinghub.elsevier.com/retrieve/pii/S0261560612000587.
7. Kurniawan, F., Ogunlana, S., & Motawa, I. (2014). Stakeholders expectations in utilising financial models for public-private partnership projects. Built Environment Project and Asset Management, 4, 4-21. Retrieved from https://pdf.sciencedirectassets.com/278653/1-s2.0-S1877705815X00336/1-s2.0-S1877705815033366/main.pdf.
8. Farquharson, E., & Encinas, J. (2010). The U.K. Treasury Infrastructure Finance Unit: Supporting PPP Financing During the Global Liquidity Crisis. Public-private partnerships solutions note. World Bank, Washington, DC. World Bank. Retrieved from https://openknowledge.worldbank.org/handle/10986/23035.
9. Akintoye, A., Beck, M., & Kumaraswamy, M. (Eds.) (2015). Public Private Partnerships: A Global Review. (CIB). Routledge, Taylor & Francis Group. ISBN: 978-041-57-2896-6.
10. Hodge, G., & Creve, C. (2019). The logic of publicprivate partnerships: the enduring interdependency of politics and markets. Edward Elgar. ISBN: 9781 78471 6684.
11. The Role of Private Finance in Public-Private Partnerships (n.d.). Retrieved from https://www.duo.uio.no/bitstream/handle/10852/57716/hegnatorje.pdf?sequence=1&isAllowed=y.
12. Uzunov, F.V. (2013). The role of public-private partnership in building a socially oriented economy of Ukraine. Investments: practice and experience, 15, 133-135.
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