Modern Trends in Financing Infrastructure Projects in the Framework of Public-Private Partnership

Abstract

The Russian economy is gradually evolving towards the Western model of financing of growth. The availability of sources of financing of investments is currently one of the main problems in investment activity. In many countries of the world, the number of sources of financing exceeds the number of sources of financing in Russia. With the transition of Russia to market relations, there is a heavy deficit of sources of financing. The system of financing of investments consists of an organic unity of sources of financing of investment activity and investment methods. Financing of investment projects can be carried out from either one or several sources. In general, all sources of financing are divided into: centralized (budgetary) and decentralized (extra-budgetary). Centralized sources usually include federal funds, funds from the budgets of the constituent entities of the Russian Federation and local budgets. All the rest are decentralized. Extrabudgetary funds include own funds of enterprises and organizations, borrowed, external funds, funds of extrabudgetary funds, private developers, foreign investments.