Innovation science and technologiy Том 2 № 2 (2026)
SCIENTIFIC AND THEORETICAL VIEWS ON THE FINANCING OF PROJECTS BASED ON PUBLIC-PRIVATE PARTNERSHIP
Ergashev, Ahmadjon
Аннотация
This study systematically examines the fundamental theoretical paradigms and conceptual frameworksgoverning project financing within Public-Private Partnership (PPP) structures. The research explores the specific financialarchitecture of PPP arrangements, synthesizing key academic perspectives on Project Finance, Special Purpose Vehicles(SPVs), and Blended Finance models. The analysis further considers diverse scientific approaches to risk allocationmechanisms, the reduction of transaction costs, and the enhancement of fiscal efficiency. Drawing on Institutional Theoryand Principal-Agent Theory, the study explains the interaction between public sector coordination and private sectoroperational effectiveness. Particular attention is given to the “Value for Money” (VfM) concept and the theoretical balancebetween sovereign support mechanisms and market-oriented incentives. The findings highlight that well-structured PPPfinancing models contribute to financial sustainability, efficient resource utilization, and long-term economic development.
Public-Private Partnership (PPP), Project Finance, Risk Allocation, Institutional Economics, Private Investment, Financial Sustainability, Value for Money.
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