Rizici projektnog finansiranja infrastrukturnih projekata

Abstract

Ovaj rad predstavlja i analizira uticaj rizika na projektno finansiranje infrastrukturnih projekata, što je glavno opravdanje za politiku primene ovog koncepta finansiranja i njegove primene širom javnog sektora, kao i rizika i neizvesnosti koja naglašava ulogu države i lokalne samouprave u njegovom upravljanju. Rezultati vezani za istraživanje rizika projektnog finansiranja su izuzetno značajni s obzirom na značaj projektnog finansiranja kao izvora dugoročnog kapitala za infrastrukturu, posebno u zemljama u razvoju, a ima i implikacije za upravljanje rizikom u okviru Bazela II. U radu se takođe ukazuje na rizike karakteristične za Srbija, u cilju boljeg razumevanja odlaganja stranih investicija u našu zemlji.

This paper presents and analyze influence of project financing of infrastructural projects on management of risk, which is central to the justification for the policy of this concept of financing and its application across the public sector, as and a risk and uncertainty which underlines the role of the state and local government in its managing. Results correlated with research of project financing are particularly relevant taking in a count the importance of project finance as a resource of long-term capital for infrastructure, especially in developing countries, and it has implications for risk management in the framework of Basel II. The paper also points out at the risks characteristic for Serbia, in order of better understanding delaying of foreign investments in our country.