ISSUE OF INFRASTRUCTURE BONDS AS A NEW FORM OF ATTRACTION FINANCING FOR INVESTMENT PROJECTS
Clear understanding of the essence of financing investment projects with the help of such innovation mechanism as the issuance of infrastructural bonds is not found in the Russian theory, legislation and practice. The goal of this article is to show how infrastructural restrictions of the economic growth can be eliminated by means of implementing the investment projects financed by infrastructural bonds. 28 Белорусский экономический журнал № 1^2015 Выпуск инфраструктурных облигаций как новая форма привлечения финансирования... In the Russian theory, law and practice there isn't a clear insight the essence of financing infrastructure projects with such innovational mechanism as emission of infrastructure bonds. The main objective of this article is showing how infrastructure restriction of the economic growth may be taken away with realization of investment projects financed by emission of infrastructure bonds. At this article using system approach it is disclosed an essence of special company of project financing, mechanism of preparation and carrying out the emission of this process, the scheme of financing investment projects with infrastructure bonds and basic directions of the development of the process. It is founded application of Russian law basis for the emission and realization infrastructure bonds with goal of financing different types of projects. It is summing Russian experience of the emission and realization infrastructure bonds for investing into infrastructure construction. It is analyzed procedure of strategic and complexes expertise investments projects financed from National Wealth Fund, including using emission mechanism of infrastructure bonds. It is proposed decisions for using bonds during structuring investment projects of different types. Declared mechanism of financing infrastructure projects may have a practical application as for a big national projects as for a middle business projects. It is concluded that in Russia there is a good basis for further perfection of infrastructure bonds as a market instrument, expansion of this mechanism application, formatting and development internal segment of Russian financial market instruments of financing infrastructure projects.