Main characteristics of project financing of infrastructure facilities and its development in Kazakhstan

The article deals with the issues of current stage of development process of project finance in Kazakhstan. The purpose of the study is to develop new recommendations based on the analysis of foreign experience in the applying project finance to implement the infrastructure projects. One of the most relevant economic development problems of Kazakhstan is the increase in investment activity, which requires the formation of an effective investment market. The complexity of its formation and the investment financing mechanism corresponding to a market economy lies in the fact that the Kazakhstani’s economy is in the stage of developing the necessary market infrastructure that ensures the free exchange of information between all business entities. However, there are very few reliable and adapted financing instruments that ensure the healthy functioning of investment activity. Therefore, in order to overcome the crisis and launch economic growth it is necessary to create new production capacities, to renew fixed assets and, on this basis, to implement innovative strategies of breakthrough and modernization. As follows from the above, the relevance and insufficient theoretical and practical study of the issues related to project financing in Kazakhstan, determined the choice of the topic, purpose and objectives of this study.

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