{"id":18064,"date":"2023-02-02T10:23:12","date_gmt":"2023-02-02T08:23:12","guid":{"rendered":"https:\/\/modecon.mnau.edu.ua\/?p=18064"},"modified":"2023-02-02T10:23:12","modified_gmt":"2023-02-02T08:23:12","slug":"international-experience-of-financing-infrastructure","status":"publish","type":"post","link":"https:\/\/modecon.mnau.edu.ua\/en\/international-experience-of-financing-infrastructure\/","title":{"rendered":"Bodnar O., Herasymenko O. International experience of financing infrastructure projects"},"content":{"rendered":"

[vc_row][vc_column][vc_column_text]<\/p>\n\n\n\n
JEL Classification<\/strong>: \u041c21; H43; H54; \u041562
\n<\/span><\/td>\n		DOI<\/b>: https:\/\/doi.org\/10.31521\/modecon.V36(2022)-04<\/a><\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

[\/vc_column_text][vc_column_text]Bodnar Olena, <\/strong>PhD (Economics), Assistant Professor of the Department of Finance, Banking and Insurance, Mykolayiv National Agrarian University, Mykolayiv, Ukraine<\/p>\n

ORCID ID:<\/strong> 0000-0002-0152-4290<\/a>
\ne-mail: <\/strong>bodnarolena1606@gmail.com<\/a><\/p>\n

Herasymenko Oleh, <\/strong>Applicant of Higher Education, Accounting and Finan\u0441e Faculty, Mykolayiv National Agrarian University, Ukraine<\/p>\n

ORCID ID:<\/strong> 0000-0002-0210-671X<\/a>
\ne-mail: <\/strong>oleh.herasymenko99@icloud.com<\/a><\/p>\n

 <\/p>\n

International Experience of Financing Infrastructure Projects<\/strong><\/h2>\n

\u00a0\u00a0<\/strong><\/p>\n

Abstract. Introduction<\/strong>. The article is devoted to issues of international experience in financing infrastructure projects. At the current pace of development, the load on infrastructure in most countries of the world will increase many times over the next decade, and its timely development will become the main guarantee of sustainable growth of the world economy and trade.<\/p>\n

Purpose.<\/strong> On the basis of the conducted research, it was found that the main factors of economic growth will be the increase of humanity (+19% by 2030) to 8.3 billion people, urbanization (the urban population will increase by 40% by 2030; and its share will grow from 52% to 58%), outpacing the growth of population incomes, further development of international trade and tourism. The authors formed the structure of investments in the world for 2020 and found out that the share of state budgets and national funds, according to analysts’ estimates, accounts for the main volume of investments in infrastructure – more than 65%. The tendency of the predominance of debt financing in the general structure of liabilities of infrastructure projects has been studied. The results of the OECD study, which was conducted among the largest institutional investors, were analyzed.<\/p>\n

Results. <\/strong>The research examines modern state proposals for new financing mechanisms, in particular, foreign experience in implementing the prospects of debt and equity financing of international projects, as well as the experience of individual countries – China, India, and Brazil.<\/p>\n

It has been proven that in the past the investment risks in this area were too high and the profitability was insignificant, which limited the range of investors.<\/p>\n

Conclusions.<\/strong> Investor interest in infrastructure projects is growing every year, and financing infrastructure projects requires new sources, in particular, an increase in private investment in the industry. It was noted that it is important for Ukraine to take into account and use successful world experience to finance its own infrastructure projects.<\/p>\n

Keywords:<\/strong> financing, infrastructure; international infrastructure projects; financing of transport infrastructure; capital market.<\/p>\n

References:<\/strong><\/p>\n

    \n
  1. Olvinska, O., & Berezorudskyi, A. M. (2021). Statistical analysis of investment activity of business entities in Ukraine. Efektyvna ekonomik<\/em>\u0430<\/em>. 8. Retrieved from : http:\/\/www.economy.nayka.com.ua\/pdf\/8_2021\/91.pdf [in Ukrainian].<\/li>\n
  2. Rating of the countries of the world according to the index of global competitiveness. Retrieved from https:\/\/gtmarket.ua\/ratings\/global-competitiveness-index [in Ukrainian].<\/li>\n
  3. Rysin, V. (2021). Advantages and risks of crowdfunding as a model of financing startups and community development projects. Finansy Ukrainy<\/em>. 4, 84-98 [in Ukrainian].<\/li>\n
  4. Riazanova, (2022). Poject financing as a tool for crediting investment projects. Ekonomichnyi forum<\/em> 1, 143-151 [in Ukrainian].<\/li>\n
  5. World Bank : official website. Retrieved from : https:\/\/www.worldbank.org\/uk\/country\/ukraine [in Ukrainian].<\/li>\n
  6. Sirenko, M., Bodnar, O. A., & Shyshpanova, N. O. (2021). Institutional infrastructure of the financial market : theoretical and practical aspects Elektronne naukove fakhove vydannia z ekonomichnykh nauk ModernEconomics<\/em>.<\/em> 25, 130-135. DOI: https:\/\/doi.org\/10.31521\/modecon.V25(2021)-20 [in Ukrainian].<\/li>\n
  7. Tkachenko, V., Klymchuk, M. M., & Klochko, A. A. (2020). Compensatory financing of energy saving projects in the development of “Smart-City”. Shliakhy<\/em> pidvyshchennia<\/em> efektyvnosti<\/em> budivnytstva<\/em> v<\/em> umovakh<\/em> formuvannia<\/em> rynkovykh<\/em> vidnosyn<\/em>. 46, 16-23 [in Ukrainian].<\/li>\n
  8. Shevchuk, V. (2018). Global dimension of development of the project financing market. Naukovyi visnyk Uzhhorodskoho natsionalnoho universytetu. Seriia<\/em> : Mizhnarodni ekonomichni vidnosyny ta svitove hospodarstvo<\/em>. 20(3), 151-158 [in Ukrainian].<\/li>\n
  9. Global Infrastructure Hub. Retrieved from : https:\/\/www.gihub.org\/ [in Ukrainian].<\/li>\n
  10. International capital markets. Retrieved from : https:\/\/www.nowcm.eu [in Ukrainian].<\/li>\n
  11. Kulinich,, Dobizha, N., Demchenko, O., Bodnar, O., Myronchuk, V., & Zelenskyi, A. (2022). \u00abMicrofinance : Methods, Models and its Impact on Economic Development\u00bb. WSEAS Transactionson Environmentand Development<\/em>. 18. 144-151. DOI: https: \/\/wseas.com\/journals\/ead\/2022\/a325115-704.pdf. Retrieved : from https:\/\/wseas.com\/journals\/articles.php?id=678\/ [in Ukrainian].<\/li>\n
  12. McKinsey Global Institute Bridging global infrastructure gaps. McKinsey & Company. Retrieved from : https:\/\/www.mckinsey.com\/capabilities\/operations\/our-insights\/bridging-global-infrastructure-gaps [in Ukrainian].<\/li>\n
  13. Retrieved from : https:\/\/www.mckinsey.com\/ [in Ukrainian].<\/li>\n
  14. Standard&Poors. Retrieved from : https:\/\/www.spglobal.com\/ratings\/ru\/ [in Ukrainian].<\/li>\n<\/ol>\n

    [\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]Received:<\/strong> 22 December 2022<\/p>\n

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    Bodnar O., Herasymenko O. (2022). International experience of financing infrastructure projects. Modern Economics, 36(2022), 25-31. DOI: https:\/\/doi.org\/10.31521\/modecon.V36(2022)-04.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n
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    [vc_row][vc_column][vc_column_text] JEL Classification: \u041c21; H43; H54; \u041562 DOI: https:\/\/doi.org\/10.31521\/modecon.V36(2022)-04 [\/vc_column_text][vc_column_text]Bodnar Olena, PhD (Economics), Assistant Professor of the Department of Finance, Banking and Insurance, Mykolayiv National Agrarian University, Mykolayiv, Ukraine ORCID ID: 0000-0002-0152-4290 e-mail: bodnarolena1606@gmail.com Herasymenko Oleh, Applicant of Higher Education, Accounting and Finan\u0441e Faculty, Mykolayiv National Agrarian University, Ukraine ORCID ID: 0000-0002-0210-671X e-mail: oleh.herasymenko99@icloud.com  
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