Arrangement of financing for highway infrastructure projects under the conditions of Public–Private Partnership

• The influence of highway infrastructure sector features on raising funds for a project was defined.
• The process of raising funds for a project under the conditions of PPP was analyzed.
• The proposed financial strategy for raising capital for the project is based on a project life cycle.
• The proposed algorithm of the funds source selection can be used for adjustment of the financial strategy.

This study focused on the mechanism of attracting funds to finance projects in the field of highway infrastructure construction through Public–Private Partnership (PPP). The basis and principles for development of the financial strategy of a project company were defined in this paper. The proposed financial strategy was developed on the basis of diversification of sources of funds and financing instruments with regard to the stages of the project life cycle. The parameters for development of the financial strategy were defined to improve the mechanisms of attraction of the capital for the project and increase the capacity of the project company to pay debts. The proposed financial strategy can be taken as a basis for development of the financial strategy for any project implemented through PPP. The capital market is not stable; therefore, in addition, an algorithm was proposed for more precise selection of sources of financial resources.