“A true story of national reconciliation”: The Grays Bay Road and Port, Kivalliq Hydro‐Fibre Link, and Inuit jurisdiction

Aim. The topicality of the research is stipulated by the objective necessity of the organizational and economic mechanism improvement of the state support projects of the industrial building. The aim of the research is the development of conceptual provisions and methodological foundations of financial projects creating conditions for economic growth of Russia based on the construction and putting into effect industrial objects. Methods. In the course of the research the system, subject-functional and structural approaches were implemented to solve the problems set widening the scope of the complex approach to assessment of the current operating mechanism of the state financial support of the projects and financial volume; to criteria stipulation of the most effective projects contest selection: to the search of the investment resources accumulation instrument into industrial building. Results. It is stipulated that state investment policy in industrial building mechanism oriented to define rational investment volumes and their branch, reproductive, technological and territorial structure; option of the building branch development priority; increase of the investment projects efficiency realization. The dynamics of the state support in the form of subsidies and budget investments into creation of the industrial building objects is analytically summarized. It is determined that the peculiarity of the modern state support projects of industrial building is transition from budget allocations distribution between branches and regions to selective and partial financing of specific investment projects on competitive basis. Some tactics of state and private partnership attracting private capital without losing strategic state control under systems and objects are defined. As an effective form of the industrial building support projects it is proposed to use a concession model form: projecting - building- financing- ownership - exploitation. Conclusion. The state support projects system of the industrial building provides the realization of all concerned people's economic interests at all stages of creating, realizing, crediting, contracts concluding and objects commissioning. The concession support model allows the state to get a number of advantages solving the problem of budget load reduction by attracting private capital. The state support forms development of industrial building promotes the competitive industrial base forming the prospect of the stable economic growth in Russia. The work has been done in the frameworks of the state order of the Ministry of Education and Science of the Russian Federation No. 2916 «Development of the organizational-economic mechanism of effective development of economic sectors».

Geothermal development can generally be broken down into distinct phases: Exploration and Leasing; Project Development And Feasibility Studies; Well Field Development; Project Finance, Construction and Start-up Operations; and Commercial Operations. Each phase represents different levels of cost and risk and different types of management teams that are needed to assess and manage the project and associated risk. Orderly transitions of management at each major phase are needed. Exploration programs are largely science based, the primary focus of the science based investigations should be to: secure the lease position, and develop sufficient information to identify and characterize an economical geothermal resource. Project development specialists build on the exploration data to: pull together a project design, develop a detailed cost estimate; prepare an environmental assessment; and collect all data needed for project financing. Construction specialist build from the development phase to: develop detailed engineering, procure equipment and materials, schedule and manage the facilities construction programs, and start and test the power plant. Operations specialists take over from construction during start-up and are responsible for sustainable and reliable operations of the resource and power generation equipment over the life of the project.

The success of Russia's socio-economic development heavily depends on resource avail abi li ty , resource sufficiency, and resource diversity. Because economic resources (natural, human, capital, information, and material) represent a key barrier to regional social and economic development, the regional federal systems should take into account the effects of regional development drivers. This study aims to assess the level of economic development across economic regions in Russia regarding resource availability and develop state regulation measures to improve regional economic performance. For thi s, a l l regions were divided into groups by their gross regional product estimates. Fac to rs re fl ec ti ng e c onomi c performance were identified through factor analysis, and the cyclical nature of resources av ai la bil it y w a s discussed. The paper offers a resources availability model that allows determining the minimum a moun t o f resources required for a region having a specific level of economic development to a c hi ev e t he ma x imu m economic performance possible inless time. In addition, the paper presents a state regulatory framework for a regional economy that integrates financial support measures, state projects and programs, and me a sure s to modify the regulatory framework and the regulation of human resources. The proposed sta te re g ul ati on framework takes into account the full range of regional resources and makes it possible to choose t h e mo st effective tools with the view to meeting regional development goals

Community financing of renewable energy projects in Austria and Switzerland: Profiles of potential investors

With the opening of the construction market and the intensification of competition, enhancing the economic performance of engineering projects has become crucial for construction companies to improve their competitiveness. This study developed a multi-dimensional comprehensive evaluation model of the economic performance assessment system grounded in management performance. The model incorporates various perspectives, including financial performance and project management effectiveness. Utilising systematic and quantitative approaches, it performs a comprehensive multi-level analysis and evaluation of the economic activities, financial status, resource allocation, and final economic benefits during project implementation from “simultaneous point” and “same node” perspectives. Relevant project data from the Installation Company of China Construction Seventh Engineering Bureau were utilised as a case study for verification. The findings indicate that, under “simultaneous point” analysis, information from all business systems can be seamlessly integrated and extensively analysed at a specific time, offering project managers a more dynamic perspective. Cross-business boundary analysis from a same node perspective enables a comprehensive and accurate assessment of the project’s economic status through rigorous data correction, facilitating data connections between diverse business areas at a unified time node. The economic performance evaluation model developed in this research provides a comprehensive assessment of the core competitiveness of construction enterprises and offers both a theoretical framework and practical tools for project performance management in the construction industry. The analysis of simultaneous points and nodes offers a reference for management decision-makers to dynamically monitor economic performance and optimise decision-making in resource allocation, financial management, and project implementation.

This paper analyses the concepts of democracy and governance. It concretely articulates the central thesis of democracy as a form of political organization on which the multidimensional systemic existence of all political animals within the universe anchored. On the same token, governance as a concept that weaves economic, political and social aspects of any given political community was highlighted in addition to the elucidation of it's three dimensions- (nature of political regime; the exercise of authority in the management of social and economic resources and; the capacity of government to design and implement policy in the discharge of its functions). While identifying their respective elements, prominence was given to the historical or evolutionary trends of both concepts. We also theoretically and empirically attempted the affinity between them from the perspectives of the Nigerian citizenry. Consequent on these efforts, it was discovered that, the affinity of the two concepts as theoretically and empirically determined notwithstanding, Nigerians, irrespective of geo-political location or sex, felt that, there is need for improvement in the country (Nigeria), if the social movement for democracy is to be positively beneficial to all.

This paper assesses participatory bottlenecks that households found in development-oriented activities of Community-Based Organizations (CBOs) in the periods 1985-1999 and 2000-2014. It also examines households’ willingness to participate in future development activities. This is aimed at determining whether CBOs and their development-oriented activities would be sustainable. The study was conducted across three Senatorial Districts in Oyo State, Nigeria. Relevant information was obtained through questionnaires which were administered to 1,104 sampled households. Descriptive statistics were used to analyze the data collected. The major bottlenecks to pro-development participation in the two periods under examination concerned financial and economic resources, as households were faced with financial problems, wealth disparity and uncooperative attitude among community members to the source of projects financing. In reference to these bottlenecks, among others, there exist a significant number of people who are not willing to participate in future pro-development activities of CBOs. The study concludes that the sustainability of the organizations could be guaranteed if the households’ perceived participatory bottlenecks to CBOs’ development-oriented activities are attended to by the government and external stakeholders in order to enhance households’ willingness to participate in future CBOs’ development-oriented activities.

Looking for more effective forms of financing projects, businessmen have come to the figure of Project Finance in order to raise the sufficient capital to carry them out. In this stage, it is created a Special Purpose Vehicle Corporation –SPVC– which takes the form of the project and is responsible for its construction, development, operation and administration, also pays the financing credit with the project’s cash flow and ensures compliance with this obligation with their property. In practice and accordance with the interests that are involved in each project, there are two options to serve as SPVC: one of them is to establish a corporation and the other one is to create a trust. Regarding to the latter, this one provides benefits to economic activity development, to property and resources management, to procurement and distribution of cash flow, and to credit payment and its warranty, so their choice favors the project and its partners as well as their funders.

Control and coordination linkages are integral features of the system of cities, but few studies have directly measured them. This study examines the structure and degree of these linkages in the context of ecological theory. The results provide support for the hypotheses derived from the theory. Linkages are hierarchically organized, and the regional metropolis and higher-level metropolises at the national scale occupy pivotal positions as intermediaries for lower-level metropolises. Although national links are important, interurban links that include the regional metropolis and its hinterland cities remain a major factor in the system of cities even in a society that is often characterized as shifting from a locallregional to a national orientation. Metropolitan interdependence is an integral feature of the control and coordination function of metropolises, but few studies have explicitly examined intermetropolitan linkages in the context of the ecological theory of the system of cities.1 Most linkages fall into two broad categories. The first includes control and coordination links; these typically involve the exercise of authority and power relations. The bases of differential authority and power derive from variable access to economic resources such as capital, specialized business information, and exceptional business skills. Examples of these control and coordination links are the management ties between corporate headquarters and lower levels of the corporation, the flow of orders between retailers and wholesalers, and the financial ties between banks. The second broad category includes the physical linkages which are controlled and coordinated by metropolises; these are chiefly transportation-based, such as commodity flows and business travel.

In the rural parish of Salinas, located in the central highlands of Ecuador, most of the communities are settled in a páramo ecosystem, whose deterioration has become a concern since the beginning of the century. The scarcity of water that some communities have experienced has led to a reconsideration of economic activities, as part of a community process that began 50 years ago, which has currently allowed them to overcome extreme poverty. This research aims to analyze the socio-technical reconfiguration process these communities have undergone in their new role as conservationists that has simultaneously ensured their livelihoods. The methodology applied is a qualitative approach based on a discourse analysis. The results indicate a process of applying social technology to protect the páramo. The availability of economic resources, a new mentality and the exercise of authority are key starting elements for the latter, and through strengthened organizations, permanent reflection, creativity, and the search for sustainability, the primary objective can be reached: the protection of the páramo.

The aim of the research is to study the correlations of the risk degree of the projects co-financed by the European Union (EU) funds and implemented by companies in Latvia with the amount of non-obtained project co-financing during their implementation. Findings: The research shows that in all phases of the project cycle, starting with planning and finishing with implementation a great role in achieving of project aims is paid by a qualitative risk management process that allows identify early and prevent different risks of project implementation. Although, to obtain project co-financing of the EU, the risk management process is stated as obligatory requirement already in the project financing phase, the practice shows that not always entrepreneurs have sufficient capacity to carry out a qualitative risk management process. Research methodology: Research quantitative and qualitative methods of data analysis have been applied to carry out the research. To summarize the project risk management experience in the world and to analyse the results of the previous research the monographically descriptive and logically constructive method has been used. To assess the risks of the projects co-financed by the EU and to analyse their correlations with other indices that characterize projects the primary data obtained with the permission of the system holder from the information system of the European Structure and Cohesion funds of the Ministry of Finances of the Republic of Latvia have been used in the research. The obtained data have been analysed applying the sociological research data procession program – Statistical Package for the Social Science, using both descriptive and analytical data procession methods. Conclusions: Having analysed the research data it can be concluded that in the projects co-financed by the EU: –the length of their implementation affects the amount of the non-obtained financing of theprojects; –the degree of the project risk assessment correlates with the amount of the non-obtained financingof the project during its implementation. The risk management process in the projects mostly takes place only in the project planning phases when it is stated as the obligatory requirement to get co-financing. The research shows that the obligatory requirement compliance quality and obtaining of co-financing depend on the risk management process quality during the project implementation. It allows conclude that it is necessary to research additionally and look for deeper regularities between the risk management process organisation and the ability to run projects qualitatively in companies. DOI: http://dx.doi.org/10.5755/j01.em.17.4.2991

The aim of the research is to study the correlations of the risk degree of the projects co-financed by the European Union (EU) funds and implemented by companies in Latvia with the amount of non-obtained project co-financing during their implementation. Findings: The research shows that in all phases of the project cycle, starting with planning and finishing with implementation a great role in achieving of project aims is paid by a qualitative risk management process that allows identify early and prevent different risks of project implementation. Although, to obtain project co-financing of the EU, the risk management process is stated as obligatory requirement already in the project financing phase, the practice shows that not always entrepreneurs have sufficient capacity to carry out a qualitative risk management process. Research methodology: Research quantitative and qualitative methods of data analysis have been applied to carry out the research. To summarize the project risk management experience in the world and to analyse the results of the previous research the monographically descriptive and logically constructive method has been used. To assess the risks of the projects co-financed by the EU and to analyse their correlations with other indices that characterize projects the primary data obtained with the permission of the system holder from the information system of the European Structure and Cohesion funds of the Ministry of Finances of the Republic of Latvia have been used in the research. The obtained data have been analysed applying the sociological research data procession program – Statistical Package for the Social Science, using both descriptive and analytical data procession methods, including frequency measurements, crosstabs measurements and nonparametric statistic Kolmagorov - Smirnov test. Conclusions: The risk management process in the projects mostly takes place only in the project planning phases when it is stated as the obligatory requirement to get co-financing. The research shows that the obligatory requirement compliance quality and obtaining of co-financing depend on the risk management process quality during the project implementation. It allows conclude that it is necessary to research additionally and look for deeper regularities between the risk management process organisation and the ability to run projects qualitatively in companies. DOI: http://dx.doi.org/10.5755/j01.eis.0.6.1605

Private Finance Initiative (PFI) projects aim to develop public facilities using private funds. Installment interest payments must be predominant in PFI project costs. The proportion of installment interest depends upon the business period, payment method, interest rate, and other factors. However, prediction of the installment interest is not simple. Cost simulation based on various assumptions has been required for planning PFI finance project. A simplified estimation formula for installment interest rate based on cost evaluations using wide range of comparable conditions is proposed in this paper. The applicability of the proposed formula is also discussed and verified. The proportion of installment interest of a PFI project can be estimated to sufficient accuracy using the proposed formula.

Infrastructure projects are going through a lot of difficulties, mostly connected with non standard established financing in South Eastern Europe countries. During and after transition period, undeveloped, insufficient but before all obsolete infrastructure in Serbia became a essential problem for further development of main economic resources (transportation, agriculture, mining, tourism etc.). Infrastructure network is necessity for the development of different sectors (energetic, agriculture, industry, commerce etc.). Domestic regulation is not clear in allowing project financing through Public Private Partnership (PPP) model, which is great opportunity for opening new projects and finishing many projects with on hold status. The main problem in decision making and starting financing projects in that model is too many risks on the market, which endanger projects from very beginning, especially in initiation phase so many investors decide to leave projects in very early phases. The analysis of potential risk elements, throughout the processes from bidding to operational infrastructure projects, is one of the most important elements to maximizing profit and functionality, and properly develop country infrastructure, while minimalizing potential difficulties that may arise. Much of the risk of a PPP project comes from the complexity of financing, taxation, law regulatory, aquired technical documentation and construction process involved in a major infrastructure venture. Main risks, their analyze and management on infrastructure projects are explained in this paper. After risk analyze, risk management tools are presented, together with method of managing risks on PPP projects in Serbia. DOI 10.5592/otmcj.2013.1.6 Research paper Goran Cirovic

The global health community has struggled to answer a pivotal question involving social justice: What do rich countries owe to the world's least healthy people? (1) In my last column, for example, I examined the responsibility of the world's rich to equitably share influenza A (H1N1) vaccines with developing countries. (2) But there is another important question that is rarely asked: What duties do low-income countries have for the health of their own populations? In many ways, this is the more important question because the state must owe the primary obligation to serve the needs of its population. This places clear responsibilities on public officials in low- and middle-income countries. But it also requires the United States to adopt policies and programs that empower, rather than emasculate, poor countries. President Obama's Global Health Initiative views global health investment as a national security smart power strategy that engages all U.S. government agencies--an all-of-government approach. It provides an opportunity to change direction, using global health diplomacy to strengthen the autonomy and capacity of poor countries to steer their own course. Three kinds of responsibilities are crucial for understanding what countries owe to their people. First, political leaders have a duty to spend a reasonable portion of their national budgets on health services as part of their international human rights obligations. Second, they must govern justly, openly, and without conflicts of interest. Finally, although they have a range of discretion, political leaders must allocate resources fairly among competing health priorities. 1) States have the responsibility to provide adequate health resources within their capacity. The international human right to health posits that governments must ensure a minimum package of essential services, (3) which includes sanitation, nutritious food, clean water, and primary health care. (4) Many low- and middle-income countries also have constitutional entitlements to health and life that require the provision of basic health services. The South African Constitutional Court, for example, ruled that the state must provide antiretroviral medication to pregnant women living with HIV/AIDS. (5) Despite these domestic and international norms, developing countries' health expenditures, as a proportion of total government spending, are significantly lower than the global average (below 6 percent, compared with above 14 percent). Foreign assistance accounts for more than 30 percent of total health expenditures, rising as high as two-thirds in many low-income countries. Worse still, developing countries often reduce their domestic health spending for every dollar they receive in foreign aid--the so-called substitution effect. (6) These data suggest that low-income countries could do much more to meet the basic survival needs of the population. Certainly, rich states must help build health system capacity in the developing world, but this does not obviate the responsibility of governments to meet their population's basic health needs. 2) States have a responsibility to govern well, with honesty, transparency, civic deliberation, and accountability. The concept of good governance--introduced by the World Bank--sets ethical standards for national management of economic and social resources for development. Those who exercise authority to expend resources and make policy have a duty of stewardship--a personal responsibility to act on behalf, and in the interests, of those whom they serve. Sound governance is honest. It avoids the systemic corruption exemplified by public officials who seek personal gain or divert funds from their intended purposes. It is also transparent; institutional processes and decision-making should be open and comprehensible to the people. It is deliberative, in the sense that government consults with stakeholders and the public in a meaningful way, giving them the right to provide genuine input into policy formation and implementation. …