Infrastructure Bonds: Foreign Experience And Risks Of Their Use In Russia

In the article, the author studies the foreign experience of using infrastructure bonds as a main financial instrument of public-private partnerships and also outlines risks of using this financial instrument in Russia. There is an increased necessity not only to finance infrastructure projects of public-private partnership, but also to invest finances of non-state pension funds into infrastructure projects due to pension reforms and the transition to an individual pension capital system. The prospects and possible problems of raising infrastructure bonds are explored. The necessity of simplification and improvement of the process of issuing infrastructure bonds is explained, and the ways of leveling the problems associated with this financial instrument of public-private partnership are suggested.