POTENTIAL PROJECT FINANCING INSTRUMENTS WITHIN PUBLIC-PRIVATE PARTNERSHIPS: THE CASE OF ARMENIA
Relevance. In developing countries, project financing through public-private partnerships (PPP) is considered one of the most effective methods of infrastructure development. Public-private financing enables the implementation of relatively expensive projects of national significance in terms of ensuring sustainable economic growth over the long term. Therefore, Armenia, as a small, open economy, also needs infrastructure development, both transport and social, and PPP projects can become a significant driver of development in these economic sectors. All of this, taken together, determines the relevance of the selected study. This article analyzes and evaluates key financing instruments for public-private partnership projects in Armenia. The study concludes that, despite the underdeveloped public-private partnership system in Armenia, the country's financial system allows for attracting private financing for such projects.
Study Objective. The study aimed to analyze possible sources of financing for PPP projects within the Armenian economy.
Data and Methods. The analysis is based on a review of statistical data characterizing Armenia's financial system in terms of its potential for participation in PPP project financing. The analysis examined financial intermediation institutions in Armenia in terms of potential sources of financing for PPP projects.
Results. The study concluded that, at the current stage of development, Armenia's financial system possesses a certain potential for investing in PPP projects.
Conclusion. The main conclusion of the study is the need to stimulate investment in PPP projects as an effective tool for developing Armenia's transport and social infrastructure.
Voskanyan M.A. “Potential project financing instruments within public-private partnerships: the case of Armenia”, Research Result. Economic Research, 12(2), 16-27, DOI: 10.18413/2409-1634-2026-12-2-0-2
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the study is carried out with the financial support of the Committee on Higher Education and Science of the Ministry of Education, Science and Culture of the Republic of Armenia (Research Project No. 24SSAH-5B004)