Experience of Project Financing in Housing Construction
The Ministry of Construction of the Russian Federation has set the task of moving the construction business, which attracts citizens’ funds for construction of residential houses under equity agreements, to the bank form of project financing. Such a transition requires an appropriate level of readiness for both the banking sector and the construction organizations themselves. And, even with the presence of sufficiently developed institutional and organizational conditions for such a systemic transition, objective and subjective obstacles that complicate the process can arise. The article gives an example of a ten-year-old attempt to organize bank financing for construction of engineering infrastructure facilities with the support of the federal budget. The main reasons for which this experience was generally not successful were analyzed.