COMPARATIVE ANALYSIS OF INVESTMENT PROJECTS FUNDING SOURCES
DOI:
https://doi.org/10.31471/2409-0948-2020-1(21)-18-26Keywords:
financing, investments, investment project, capital investments, co-financing.Abstract
Abstract. The article analyzes the sources of funding of investment projects, identifies existing problems and prospects for attracting financial resources.
Different approaches to the classification of investment projects funding sources are considered: own and loan investment resources of the enterprise, budgetary and extra-budgetary funds, funds of foreign investors, etc. The inflow of foreign investments into Ukraine and the volume of capital investments by sources of funding are analyzed. It has been found out that the financial resources of enterprises and organizations play a crucial role in the sources of funding investment projects. A positive increase is the annual increase in budget financing, in particular at the expense of local budgets, whose size is significantly increasing; as well as an increase in other sources of funding. In general, state aid is small in size, which negatively affects the development of investments in Ukraine. There is a decline in foreign investment in Ukraine's economy. This situation is absolutely negative for the development of the country.The foreign investment is the most desirable form of investment for developing economies, because it allows the implementation of large projects; in addition, new technologies, new corporate governance practices and more are coming to the country.
The economic downturn in our country is accompanied by a decrease in investment activity. Activation of investment activity is also hindered by the political situation, and it is impossible to overcome the crisis without a significant increase in investment. According to the results of the research, it is established that different funding sources are needed for investment activity. Local budgets and private foreign investors must play a significant role in financing the implementation of investment projects. The necessity of mixed investment projects funding.А classic combination of several sources of investment resources formation, application of tax privileges of investment character, venture funding, use of alternative instruments: business incubators, business angels, crowdfunding are determined.
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