THE CONCEPT OF FORMING THE FINAL THE (BLENDED)COST OF FINANCING LARGE INVESTMENT PROJECTS

Abstract
Financing of projects that ensure the technological sovereignty of the country and improve
the quality of life for the population of Russia requires both a favorable investment climate and
substantial financial resources, as well as long implementation periods, which is practically
impossible for individual companies given the high interest rates in the Russian market and the
absence of foreign investors. This article proposes a methodology that, based on the developed
Concept of forming the final blended cost of financing of large investment projects, introduces into
scientific circulation a taxonomy of evaluation indicators that will take into account the strategic
significance and risks of the project, differentiated according to sources of financing. The article also
proposes a detailed Concept - a methodology for differentiating projects with state support, based on
an analisis of DSCR (Debt Service Coverage Ratio) and IRR (Internal Rate of Return), which
achieves the necessary results for all participants using a minimal and sufficient volume of budgetary
support for different categories of projects.