Implementation Of Public-private Partnership Projects Research Articles

Deciphering the difference puzzle of risk-sharing: A comparative analysis of infrastructure PPP development within China and US

Appropriate risk sharing is crucial for the successful implementation of Public-Private Partnership projects. However, under different social systems, the international community lacks a clear risk-sharing framework in Public-Private Partnership research. This study employs a multi-case study method to examine the practice of risk sharing in infrastructure Public-Private Partnership projects within China and the US, aiming to provide a clear risk management framework for Public-Private Partnership projects. The research findings reveal common elements and similar characteristics in risk-sharing practices. Contrary to the goal of transferring all risks to the private sector, both countries actually allocate risks to the party with stronger risk control capabilities or share risks between the government and the private sector. The US benefits from more mature policies and has a comprehensive Public-Private Partnership model implementation framework; in contrast, as an emerging market for Public-Private Partnership models, China's current laws and regulations need further improvement. The results of this study not only contribute to optimizing risk-sharing arrangements and improving investment efficiency of the project, but also promote the development of cross-border infrastructure projects, and provide valuable experience and insights for the sustainable development of global infrastructure.

PUBLIC-PRIVATE PARTNERSHIP AS A TOOL FOR FINANCIAL SUPPORT OF THE ENERGY SECTOR IN UKRAINE: ANALYSIS, MECHANISM, FINANCIAL REPORTING

Based on the analysis of the dynamics of implementation of public-private partnership (PPP) projects in Ukraine, key problems have been identified and its priorities in financial support for the recovery of the native energy sector have been determined. It is appointed that PPP concession agreements are the main mechanisms for attracting investment in the global electric power industry. The expediency of using the concession model on BOT terms for the implementation of large projects in the energy sector is substantiated, which will contribute to the intensification of investment attraction and will allow to distribute risks between the state and business. Recommendations on the formation of an information platform for participants in the implementation of PPP projects on the basis of disclosure of information on the effectiveness of concession operations in accounting and financial statements have been developed. The tools for the formation of the financial mechanism of public-private partnership, where the priority is budget and venture financing, are substantiated. To make decisions on the implementation of PPP investment projects, an approach to assessing the financial support of project initiatives is recommended, the basis of which is the proposed criteria for compliance with financial security, the choice of funding sources, indicators of scenario analysis and efficiency. The proposed methodical approach to assessing the effectiveness of PPP allows us to assess the synergistic effect, which reflects the totality of economic, social and environmental effects. The formulated recommendations for improving the relationship between the state and business will contribute to the intensification of the attraction of private investment resources on the basis of PPPs for the restoration of the energy sector in Ukraine.

МОДЕЛИРОВАНИЕ РИСКОВ ЭКОНОМИЧЕСКОЙ БЕЗОПАСНОСТИ ПРИ РЕАЛИЗАЦИИ ПРОЕКТОВ ГОСУДАРСТВЕННО-ЧАСТНОГО ПАРТНЕРСТВА

The modern economy is in a state of unstable, turbulent development. This is caused by a series of macroeconomic shocks (Covid-19 pandemic; anti-Russian sanctions) in recent years. As a result, there is a weakening of economic security at the regional and national levels. It is necessary to expand the range of tools to ensure this. One such tool is public-private partnership (PPP). Traditionally, partnerships are not considered in the context of ensuring economic security. They act as a tool for economic development and satisfaction of socially significant needs. The author's study proposes two approaches to considering PPP in the context of economic security. On the one hand, the implementation of PPP projects stabilizes the economy, i.e. contributes to ensuring economic security. On the other hand, when implementing PPP projects, all stakeholders have to face economic security risks. The author has proposed a 3D model that allows for the assessment and monitoring of such risks. Clear and understandable visualization of risks in the model leads to simplification of decision-making procedures for managing PPP economic security risks.

ФІНАНСИ ПУБЛІЧНО-ПРИВАТНОГО ПАРТНЕРСТВА ЯК ВАЖЛИВИЙ НАПРЯМ ПОБУДОВИ «ЗЕЛЕНОЇ» ЕКОНОМІКИ В УКРАЇНІ

The article substantiates the need to use the possibilities of public-private partnership for the “green” development of Ukraine. The purpose of the study is to determine the features of the use of “green” investments in the implementation of public-private partnership projects at all levels of management. In accordance with the goal, the following tasks are set: to find out the structure of “green” investments and their role in the implementation of public-private partnership projects in wartime; explore the types, forms and subjects of public-private partnership in modern conditions; analyze possible risks of international “green” investment in public-private partnership projects in Ukraine during the reconstruction period; identify the existing problems in the use of such forms of public-private partnership in Ukraine as rent and concession for the development of the “green” economy and possible ways to solve them, taking into account the experience of the EU countries.
 In today’s conditions in Ukraine, local self-government bodies, as well as their associations, began to play an increasing role in the process of building a ‘’green’’ economy. In addition, some democratic countries, which are leaders in the use of “green” investments in the EU, began to help actively Ukraine financially. Analyses of the experience of their use of public-private partnership projects will allow our country to achieve quickly the standards of the Green European Course, since Ukraine has received the status of a candidate for joining the European Union.
 The expansion of the subjects of public-private partnership requires the creation of the proper conditions for them by the state, which will enable Ukraine to increase significantly “green’’ investments for the reconstruction of the country. Therefore, it is important to study the experience of stimulating the EU countries “green” projects of public-private partnership in various spheres of the economy, use the best of it in Ukraine.

TAX INCENTIVES AS A TOOL OF DEVELOPMENT OF PPP PROJECTS FOR EMERGENCY MANAGEMENT: EXPERIENCE OF PRC REGIONS

The purpose of the research. The article discusses the public-private partnership (PPP) projects as an important tool for attracting private sector resources to enhance the efficiency and quality of emergency response. It analyzes the extent to which tax incentives influence the financial decisions of corporations and investment returns in the context of regions in China. The purpose of the research is to identify the role of tax benefits in stimulating the use of PPP projects for managing emergencies. It presents specific cases where tax incentives were utilized to recover participating in PPP projects enterprises during the pandemic. Results. The research revealed that the provision of tax incentives has had a positive impact on PPP projects. This is achieved through the reduction of financial burdens on enterprises, lowering costs for PPP projects implementation, and increasing investment returns. These measures provide critical support for the successful implementation of PPP projects and contribute to sustainable national economic development. PRC’s experience demonstrated that even during social crises such as the COVID-19 pandemic, tax incentives effectively promote private sector participation in infrastructure construction and the provision of public services to harmonize the economic and social goals in public policy.

Private and public interests as factors in the effectiveness of public-private partnership

Cooperation carried out within the framework of public-private partnerships is characterized by high risks of dishonest behavior of the parties to the agreement. The circumstances that encourage dishonest behavior of the state and private partners are considered. The stages of implementation of public-private partnership projects have been established, at which the risk of dishonest behavior is the highest. Recommendations aimed at minimizing such risks are proposed. It is concluded that it is necessary to increase the transparency of ongoing procedures, expand the parameters taken into account and controlled when making decisions within the framework of public-private partnerships, the importance of detailed documentation of the facts of economic life and attract public attention to public-private partnerships.

EFFICIENCY OF PUBLIC-PRIVATE PARTNERSHIP IN INFRASTRUCTURE DEVELOPMENT: ANALYSIS AND PROSPECTS

In 2022, the magnitude of investments in Public-Private Partnerships (PPP) within the infrastructure sector demonstrated a gradual resurgence. Beyond the well-established practice of attracting significant PPP investments in developed nations, there has been a notable increase in the engagement of middle-income countries in the utilization of public-private collaborative mechanisms for the advancement of their infrastructure. Among the sectors, transportation, and communications have consistently maintained a prominent position in terms of both investment influx and the quantity of successfully executed infrastructure projects on a global scale. Quantitative performance indicators within the sphere of PPP projects, encompassing metrics such as the count, monetary volume, and the proportion of different agreement types, manifest encouraging trends in the execution of infrastructure PPP initiatives. Conversely, the qualitative outcomes of this investigation reveal a spectrum of issues that are intrinsically linked to CSFs. These CSFs represent the principal benchmarks that exert a direct influence on the efficiency of PPP projects concerning their established objectives, processes, and management framework. The research undertaken by the authors has successfully identified a range of disparities in the challenges faced during the implementation of PPP projects across diverse nations, notwithstanding the similarity in the underlying mechanisms of cooperation.

Public–private partnership (PPP): theory of the issue and world experience in implementing PPP projects

The public–private partnership aims on a contractual basis to develop a property complex owned by the State by right. However, the influence of private business should not be underestimated, as it is often the initiative of private organizations in the desire to influence some problems in various spheres lead to effective interaction between the state and business. Investment is an integral part of public–private partnerships. Many people, despite the rapid steps forward of modern society, associate investment with very complex financial processes. Investment in its essence is a tool that benefits participants of investment cooperation.The subject of this study is the definition, on the basis of the theory of public–private partnership, of the main trends in PPPs in the world and in Russia. The authors substantiated that infrastructure, especially in the case of our country, is one of the key areas of PPP development, along with environmental conservation and balanced use of all types of resources. The world is constantly in motion, and many examples and experiences are currently irrelevant or questionable. We need to look at this issue from the experience of other countries and specific enterprises.

Public-private partnership in the agrarian sector: conceptual framework for development

The article deals with the conceptual framework for the development of public-private partnership (PPP) in the agricultural sector of Ukraine. The author substantiates the need to reorient the model of agricultural development to the principles of deeper interaction between the State and business, one of the key mechanisms for ensuring which is PPP, which is carried out on a contractual basis to achieve a common goal by combining resources to obtain certain benefits for each participant. The purpose of the study is to develop a conceptual framework for the development of PPPs in the agricultural sector of Ukraine. The study shows a low level of implementation of PPP projects (18 projects out of 193, or 9,3 %) and its rather slow development in our country's economy, mainly due to legislative obstacles. It is substantiated that in the current conditions the issue of partnership development is extremely relevant, since budgetary funds are not enough to implement large-scale projects in wartime. Therefore, involvement of private partners and the use of mechanisms for building long-term relationships with them is essential. The author emphasizes the need for real changes in the implementation of PPP investment projects in agriculture, clarification of the tools for ensuring its development and their adaptation to sectoral issues, which requires the development of a Concept for the Development of Public-Private Partnership in the Agricultural Sector of Ukraine. The study argues that it is necessary to develop a unified approach to the development of PPPs, to determine the priority areas of application of such partnerships and the specifics of its use in solving the problems of agricultural development. The main factors hindering the development of such cooperation are identified and the main objectives of the Concept for the Development of Public-Private Partnership in the Agricultural Sector of Ukraine are substantiated. It is proved that improvement of PPP procedures will help to expand the scope of its application, accessibility, speed and scale of projects, as well as adaptation of such an investment support mechanism to the conditions of wartime/peace time. The article summarizes the main ways of activating PPPs as a mechanism for attracting investment in the reconstruction and development of the agricultural sector of Ukraine's economy. The fulfillment of these tasks will contribute to the revitalization of the use of PPPs in solving the problems of agricultural production development, development of the institutional framework for its implementation in Ukraine, in particular, the adoption of strategic directions for this development in the short and long term. Key words: state, concept, private partner, public-private partnership, agricultural sector, PPP projects, investment resources, development.

Unsolicited Proposals in Public-Private Partnerships: a Conceptual View

Introduction. A well-developed infrastructure is key to the success of any business or country. It stimulates economic development, cost reduction, mobility and access to basic services. In order to speed up the development of infrastructure, governments around the world have turned to a tool such as the Public Private Partnership (PPP). PPPs can be initiated either by a public party, which involves competitive bidding (solicited proposals), or by a private investor, in which case the mechanism is called unsolicited proposals (USP). This article attempts to conceptualise the validity of the practical implementation of USP in PPPs. It focuses on identifying the motives of the parties, the organisational mechanisms used, and the benefits and limitations of USP. The study takes into account existing world practice and data from peer-reviewed scientific journals.Methods. The study is based on a literature review of peer-reviewed scientific articles indexed in citation databases such as Scopus, Web of Science and eLibrary.Ru. In addition, data from open sources such as the Rosinfra reports and the World Bank Group’s “Private Participation in Infrastructure” database have been used.Results. The analysis showed that the results of USP are associated with (1) a number of conflicting motives of public and private parties, (2) the specificities of the organisational approach, and (3) a possible set of positive or negative outcomes. This explains, in our view, the uneven use of USP by groups of countries with different levels of economic development. As a result, we propose the conceptual scheme of the use of USP in PPPs.Discussion. The results are in line with the data of other researchers and point to the potential and prospects for further use of USP in PPPs. Further research will be devoted to collecting and processing statistical data on the results of UPS in a number of countries. This will allow a more rational approach to the development of organisational and management mechanisms for the implementation of PPP projects based on USP. This will ensure maximum socio-economic impact.

Criteria in Selecting Key Performance Indicators for Public Private Partnership (PPP) Projects

Public Private Partnership (PPP) is conceptualised as a performance-based procurement in which concessionaires are contracted to provide efficient facilities and services to the government. The quality of the facilities and services provided by the concessionaires will be assessed using key performance indicators (KPIs). This is for determining the level of performance against the agreed level of standards as expected by the government. However, most of the PPP projects are currently facing the difficulties in meeting the expectation. It is due to several issues such as lack of methods for measuring the KPIs, the lack of understanding of the KPI implementation, project performance not reflecting the actual performance (physical) on site, the absence of a weightage system on KPIs, and inconsistent of works performance. These shortcomings have led to the difficulty in determining the performance level of the PPP projects. Therefore, this research aims to identify the important criteria for selecting KPIs for PPP project and to determine the implications on the absence of important criteria in selecting PPP project KPIs. Empirical research using case studies via semi-structured interviews technique were conducted within PPP stakeholders. The important criteria were determined from the data obtained from thirty-two (32) semi-structured interviews conducted across six (6) case studies. The results indicate 11 important criteria to be considered when establishing the KPIs for PPP projects. The findings of this research may benefit practitioners in setting the criteria in selecting appropriate KPIs for the implementation of PPP project during operational and maintenance phase.

RISK-ORIENTED MANAGEMENT OF PORTS IN THE IMPLEMENTATION OF CONCESSION PROJECTS

The subject matter of research in the article is the models and methods of risk management in the process of implementing concession projects within the port activities. The goal of the work is to develop a risk management model for the implementation of concession projects in the port to improve the efficiency of port activities and ensure the competitiveness of port services. The following tasks are solved in the article: analysis of international and national experience in reforming the port industry, consideration of the essence of the project-oriented approach in port management, determination of the relevance of the implementation of public-private partnership projects on the example of concession projects in the port, analysis of risks arising from the project management of ports within the concession, identification of concession project stakeholders, proposal of a classification model for risk distribution among project stakeholders, prioritization of risks based on the probability of their occurrence, identification and significance of negative consequences, development of a risk assessment model for port production in concession projects. The following methods are used: project management methods, failure mode and effects analysis method, risk management theory, quality management methods. The following results were obtained: based on analytical research of the world and Ukrainian experience in the operation of transport hubs, it was proved that an effective mechanism for increasing the competitiveness of ports is the implementation of reform principles based on project management methodology. It has been established that the most common type of port activity improvement is the implementation of concession projects. It is noted that in the process of managing a concession project, certain risks arise that require assessment. The stakeholders of the concession project are identified and a classification model for the distribution of risks between them is proposed. A model of risk-based port management in concession projects has been developed based on the failure mode and effects analysis method taking into account the determination of the risk priority rank. Conclusions. To increase the competitiveness of ports, it is proposed to develop and implement concession projects in port activities based on the project management methodology, the implementation of which can increase the efficiency of port services. There are risks in the management of port activities within a concession project. It is proposed to distribute them among stakeholders and determine the probabilities of occurrence, identifying risks, assessing the significance of their impact on the quality of port services. Based on the proposed risk assessment model, taking into account the determination of the priority rank, it is shown that the greatest risk is associated with the implementation of customs formalities and the danger of the port water area.

Models, forms and mechanisms of public-private partnership for the creation of competitive enterprises in agricultural sector

Issues and prospects of relations between the state and business have always been in the spotlight. They acquire particular relevance and significance when many sectors of economy need state support. The revision of the principles of agribusiness is fundamentally changing the approach to creating competitive enterprises in agricultural sector. One of the effective mechanisms is public-private partnership (PPP), which has not yet been fully studied, its potential has not been revealed. Successful implementation of PPP projects in grain products subcomplex requires an indepth study, generalization and systematization of the experience of their use by national and foreign companies that have achieved high results in this area. A detailed analysis of the directions for increasing the competitiveness of domestic grain industry, primarily targeted investment in the development of production, is needed. The goal is a comprehensive study of theoretical and methodological foundations for creating models of public-private partnership in the agro-industrial complex. Methods – synthesis, systematization of scientific views to determine the potential of PPP in agriculture. Results – essence and various interpretations of the concept of "public-private partnership" are shown, foreign experience in improving existing and emerging new forms of PPP as an institution for stimulating entrepreneurial activity is considered, the advantages of society, the state and business in the framework of public-private partnership are identified, as well as problems that constrain its development. Conclusions – based on the interpretation of the data, it has been established that discussions on PPP issues in the republic are due to the specifics and high risks in agricultural production, however, in a number of economically developed countries, this type of partnership has proven practical effectiveness and has become an important element in ensuring food security, attracting long-term investments in the agro-industrial complex, increasing its profitability, obtaining high quality products and their availability.

Skema Kerjasama Pemerintah Dengan Badan Usaha (KPBU) Dalam Penyediaan Infrastruktur Alat Penerangan Jalan (APJ)

The purpose of this study is to identify the infrastructure needs for Street Lighting Equipment (APJ), analyze financial performance Government Bandung Regency area, and the Government Cooperation with Business Entities (PPP) scheme in providing APJ infrastructure in Bandung Regency. The local government is only able to provide less than half of the funding. For this reason, it is necessary to look for other alternative sources of funding in funding its infrastructure needs. Through literature and policy/regulation studies, one of the alternatives that is expected to be an important model for providing infrastructure is the Public Private Partnership (PPP) scheme in which the private sector can participate in providing infrastructure starting from the aspects of funding, design, construction, operation, to maintenance. infrastructure based on cooperation agreements. To support this PPP program, the Government of Bandung Regency through the Ministry of Finance has provided fiscal facilities at each stage of the PPP project implementation for the provision of APJ infrastructure.

Analisis Current Ratio, Return on Assets, dan Ukuran Perusahaan, serta Pengaruhnya terhadap Nilai Perusahaan yang Dimediasi oleh Struktur Modal

The purpose of this study is to identify the infrastructure needs for Street Lighting Equipment (APJ), analyze financial performance Government Bandung Regency area, and the Government Cooperation with Business Entities (PPP) scheme in providing APJ infrastructure in Bandung Regency. The local government is only able to provide less than half of the funding. For this reason, it is necessary to look for other alternative sources of funding in funding its infrastructure needs. Through literature and policy/regulation studies, one of the alternatives that is expected to be an important model for providing infrastructure is the Public Private Partnership (PPP) scheme in which the private sector can participate in providing infrastructure starting from the aspects of funding, design, construction, operation, to maintenance. infrastructure based on cooperation agreements. To support this PPP program, the Government of Bandung Regency through the Ministry of Finance has provided fiscal facilities at each stage of the PPP project implementation for the provision of APJ infrastructure

MODERN MODELS OF PUBLIC-PRIVATE PARTNERSHIP IN THE FIELD OF VOCATIONAL EDUCATION AND TRAINING IN THE EUROPEAN UNION

The relevance of the article is determined by the need to study models of public-private partnership that are successfully implemented in the field of vocational education and training in the European Union countries to take into account their positive aspects in establishing cooperation between vocational (vocational-technical) education institutions with state and non-state partnership entities in Ukraine.
 Objective: based on the research results, to identify modern models of public-private partnership in the field of vocational education and training in the European Union countries, to find out their peculiarities and positive aspects for use in establishing cooperation between similar partnership entities in Ukraine.
 Methods: studying legislative, regulatory documents, empirical data - to determine models of public-private partnership in the field of vocational education and training in the European Union countries; analysis and synthesis, generalization of views on the investigated problem - to clarify the peculiarities of public-private partnership models in the field of vocational education and training in the European Union countries; drawing conclusions.
 Results: based on the analysis of legislative, regulatory documents, and empirical data, modern models of public-private partnership in the field of vocational education and training in the European Union countries have been identified, their peculiarities and positive aspects for use in establishing state-private partnership in the field of vocational (vocational-technical) education in Ukraine have been clarified.
 Conclusions: modern models of public-private partnership in the field of vocational education and training in the European Union countries have been identified: social-normative, focused on ensuring the quality of vocational education and training; resource-oriented, characterized by the presence of an investment climate, verified databases, contractual relations; institutional-communicative, focused on the development of interaction of educational service providers in the field of vocational education and training with the labor market to improve knowledge, skills, competences, qualifications. It was found that there is high activity in the implementation of public-private partnership projects in the field of vocational education and training in the European Union countries, which allows government authorities to invest in infrastructure development, support fundamental research, improve educational programs, etc., and businesses - to achieve their own goals in terms of increasing profitability, growth of charter capital value.

Taxation in the implementation of public-private partnership projects

Aim. The presented study aims to analyze the peculiarities of taxation in the implementation of projects using the mechanism of public-private partnership (PPP).Tasks. The author considers the forms and principles of PPP; analyzes the specifics of taxation in PPP; determines tax liabilities in the context of project implementation stages.Methods. This study uses general scientific research methods: analysis, synthesis, comparison, and generalization.Results. The essence of PPP is revealed. The author describes the basic principles and specific aspects of the implementation of projects based on PPP. Special tax conditions for the concessionaire and the private partner are analyzed in the context of taxes and tax obligations under the concession agreement and the PPP agreement are grouped to identify the distinctive features of the tax regime under PPP.Conclusions. In light of the trend of implementation of investment projects and infrastructure development facing insufficient investment in projects, PPP can be viewed as an effective tool. Attracting financing for infrastructure projects requires creating favorable conditions for investors, including state guarantees and tax incentives. In this regard, this study examines the peculiarities of taxation of organizations, in particular special project companies, in the implementation of projects using the PPP mechanism.

Public-Private Partnerships for the UN Sustainable Development Goals achievement

The subject of the study is public relations emerging in the implementation of public-private partnership projects aimed at achieving the sustainable development goals developed by the UN. The object of the study is a set of financial and institutional conditions for the implementation of public-private partnership (PPP) projects based on PPP agreements with a special focus on the UNECE model law “PPP for the benefit of people” being developed. Thus, the proposed approach to PPP for the benefit of people as a separate type of PPP has been criticized. The author, through the prism of sustainable development goals, describes the possibility of improving the proposed international legal norms and rules developed for the implementation of PPP projects. The article also discusses the possibility of introducing the sustainable development agenda through PPP agreements (lex PPPs). When writing the article, the following methods were used: logical, historical, theoretical-prognostic, formal-legal, systemic-structural, comparative law and legal modeling. The methodological apparatus consisted of the following dialectical techniques and methods of scientific knowledge: analysis, abstraction, induction, deduction, hypothesis, analogy, synthesis, typology, classification, systematization and generalization. The main conclusions of the study are that the concept of sustainable development and sustainable development goals are becoming increasingly popular in the practice of implementing investment projects, including those based on PPP. Further improvement of domestic legislation on PPP should be in line with the implementation of best practices, focused not just on the financial component and benefit of the investor and the state, but also on the benefit for people (PPP people first) and the planet (PPP for planet). The main results of the study include the fact that aspects were identified that slow down the advancement of the sustainable development agenda in the field of public-private partnership (contradiction of terms, lack of incentives for implementation for investors), a definition was given to public-private partnership for sustainable development, and It was also revealed that lex PPPs can become an effective tool for achieving sustainable development goals through their implementation in PPP agreements.

ANALYSIS OF MODERN PRACTICE IN IMPLEMENTING PUBLIC-PRIVATE PARTNERSHIP PROJECTS

Attracting private investment to solve social and economic problems is an important task for any state. Implementation of infrastructure projects, coupled with social and economic programs, allows the state to pursue a compact, efficient and flexible policy. The mechanism of partnership relations between the state and private business that has developed in world practice in the implementation of socially significant investment projects represents a new stage in state regulation of the economy. The use of the investment mechanism in Russian conditions is possible, especially in those areas of activity where private investment is able to ensure sustainable economic growth, while maintaining the control functions of the state. Today, the economic situation of the subjects of the Russian Federation requires the use of new tools to assess their economic potential, socio-economic development and competitiveness. Such tools are important for an active federal policy aimed at leveling interregional inequality and ensuring the economic integrity of the country. The purpose of the work is to explore the world experience in the implementation of public-private partnership projects as a promising form of interaction between the state and business. The methods of scientific research are synthesis, statistical and comparative analysis, methods of systemic and graphical analysis. The subject of the study is a system of relations between the state and business, focused on the creation and operation of social and industrial infrastructure facilities. Based on the analysis, it was noted that public-private partnership is a more popular and attractive form of relationship between the state and business in modern conditions and abroad.

Methodology for evaluating the effectiveness of financial instruments and levers of public-private partnership: controversy in the scientific environment

Introduction. The implementation of partnership relations between the state and business is based on the principles of mutual benefit, which must be measurable. Taking into account the above, the evaluation of the effectiveness of the use of its financial instruments and levers for each of the participants is of great importance in the financial mechanism of the public-private partnership. Performance evaluation requires the study of this phenomenon and the analysis of its main components in order to clarify the value and expediency.Target. The purpose of the article is to highlight the debatable views of scientists regarding the expediency of using a certain methodology for evaluating the effectiveness of financial instruments and levers of public-private partnership.Research methods. The methodological basis of the research is the methods of bibliographic analysis, comparison, synthesis and generalization, as well as the fundamental theoretical approaches of economists, which make it possible to determine the essence of performance evaluation and the importance of its use in the process of implementing public-private partnership projects.Results. The article describes various approaches to the implementation of the methodology for evaluating the effectiveness of the use of financial instruments and levers of public-private partnership. They are reflected in normative documents, many domestic and foreign publications, which causes the absence of a single methodology for this assessment. However, taking into account the fact that there are two parties involved in the partnership, most scientists believe that a comprehensive assessment should be based on indicators that should take into account the benefits of all participants in the public-private partnership. This will make it possible to assess the level of realization of the interests of the partnership participants, identify negative trends in the process of achieving them, and identify factors that prevent the desired result from being achieved.Perspectives. Further scientific research will be aimed at uncovering the pragmatics and issues of evaluating the effectiveness of financial instruments and levers at each stage of implementation of public-private partnership projects.