Проектное финансирование

M. : RUSCIENCE, 2025.

The textbook "Project Finance" is a guide to the study and practical application of project finance instruments. It covers a wide range of topics, from theoretical foundations to applied recommendations for solving specific problems in capital raising and risk management. It explores the nature and economic essence of project finance, comparing it with traditional bank lending and venture capital. It covers the historical development of project finance globally and its current status in Russia. It examines in detail the structure and composition of project finance participants, their roles, and interests. Key elements of project finance are highlighted: risk allocation, financing, risk management, and legal registration of transactions. Various sources of capital are examined, including equity and debt, as well as mezzanine financing, leasing, government participation, and collective financing. It presents methods for evaluating the effectiveness of project finance instruments. The book introduces readers to the main methods for evaluating the effectiveness of investment projects and provides recommendations for choosing an appropriate evaluation method depending on the specifics of the project. Particular attention is paid to the identification, classification, and management of risks in project finance. Various types of risks (construction, technological, financial, political, and others) are examined, and mechanisms for their mitigation are presented. Current issues of government participation in project finance, the practice of project finance in Russia, and current trends in the industry are presented. The book provides numerous examples from business practice, contains numerous diagrams and tables, and offers a glossary of project finance and a number of other interesting appendices.
This textbook is intended for undergraduate and graduate students, business school students, students of economics and finance departments, professors, and professionals in finance, economics, and law working in corporate finance and project finance.

Keywords: проектное финансирование, мезонинное финансирование, project finance, mezzanine finance, structured finance, структурное финансирование