SHS Web Conf.
Volume 112, 2021Northern Sustainable Development Forum 2020
|Number of page(s)||4|
|Published online||23 June 2021|
Practical recommendations for implementing the project funding mechanism in the transport construction
Irkutsk State Transport University, 15, Chernyshevskogo str., Irkutsk, Russiа
* Corresponding author: firstname.lastname@example.org
Changes in the Russian and global economies have been affecting all sectors. Neither the transport industry nor the construction one is an exception. These industries are budget-forming, and all participants in business processes should be interested in their strategic development. In order for the federal projects developed by the Ministry of Transport to be effective, a new project funding approach is required. Industries and companies have limited financial resources. The Russian Railways company is no exception due to its limited budgetary funds and own financial capabilities. It is necessary to develop effective mechanisms for funding railway infrastructure projects. Project funding mechanisms can be innovative ways of funding large-scale infrastructure projects, since they are based on a combination of banking, commercial and public resources. Project funding can unite financial resources and competences of project participants. In addition, qualified financial institutions will be involved in project funding transactions, which ensures the timely project implantation. Project funding mechanisms allow for a comprehensive project assessment, since the lender confirms the economic feasibility of the project. Project effectiveness evaluation has become relevant after the adoption of a strategy for the development of railway transport in the Russian Federation until 2030. Polygon technologies are promising for Russian Railways and used by the Trans-Siberian Railways.
Key words: infrastructure / funding / project / investment / budget
© The Authors, published by EDP Sciences, 2021
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