Demography and social economy, 2012, 1(17):103-109
doi: https://doi.org/10.15407/dse2012.01.103

BAZHENOV A.V.

Development of public-private partnerships in Russia
Section: Public-private partnership.
Language: Russian
Abstract: Social infrastructure development is a priority direction of activity of public authorities and local governments of the Russian Federation. Capacity of the Russian regions and municipalities to enter capital markets is significantly limited by the state regulation. Public-private partnership is one of the instruments of development. The PPP market in Russia is being established at the moment. The legal framework for PPPs has quite developed in the past decade. It allows implementing projects within various PPP models, like BTO, BOT, etc., but has substantional shortcomings relating to budget, land, tariff, antimonopoly legislation. Russia’s PPP market characterizes by a large number of PPP projects’ in pipeline (more than 400 projects were initiated in 2011), but only limited number of PPP projects are getting to the stage of tendering and even less projects are reaching financial closure. These problems are primarily related to scarce financial resources and weak competencies of authorities to develop PPP projects. As a development institution, Vnesheconombank gives preference to projects based on PPP principles. The bank offers long-term capital for implementation of such projects. Moreover, acting through its PPP Centre, which is Russia’s national hub of PPP competences, Vnesheconombank provides financial and nonfinancial support for PPP projects’ preparation. Development of the national PPP system is a core element of the process of modernization of Russia’s public infrastructure, whereas Vnesheconombank is the driving force for the national PPP system.
Key words: public-private partnership, development bank, social infrastructure, investment, projects.

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