Master
2023/2024
Project Financing
Type:
Elective course (Finance)
Area of studies:
Finance and Credit
Delivered by:
Department of Finance
When:
2 year, 2 module
Mode of studies:
offline
Open to:
students of all HSE University campuses
Instructors:
Казанский Александр Вячеславович
Master’s programme:
Finance
Language:
English
ECTS credits:
3
Contact hours:
28
Course Syllabus
Abstract
The discipline aims to provide knowledge of the approaches used in organising the financing of capital-intensive investment projects. Emphasis is placed on the choice of sources of project finance, analysis of risks associated with the source, on determining the relationship of the parties involved in the process of project finance. Students will gain experience in structuring investment projects and will be able to comprehensively apply previously acquired knowledge in financial analysis, marketing, financial management, risk management and other studied disciplines. The course is based on a large number of examples from Russian and international practice of project finance, and business cases related to justification of the source of project finance are expected to be solved
Learning Objectives
- Know the theoretical foundations of project financing
- Be able to analyze and draw conclusions about the feasibility and effectiveness of project financing
- Learn to structure PF transactions taking into account systemic capabilities with the participation of government agencies
Expected Learning Outcomes
- Know the basic principles and concepts of project financing
- Know the main partners and contractors of the project company, be able to form the architecture of project financing
- Know the main instruments of project financing
- Be able to calculate the effectiveness of the project
- Determine the need for project financing
- Be able to analyze and select the optimal ones as a result of the analysis
- Know the basic principles and tools of bank project financing
- Determine the main directions of credit and collateral monitoring
- Know the main directions of analysis of the project company-borrower
- Determine what the decision to finance the project will be
- Know the main risks of project financing and tools for reducing them
- Know the main forms of interaction between the state and the private sector in project financing
- Be able to distinguish between PPP and concession
- Describe the Project Finance Factory
Course Contents
- Definitions and Principles of Project Finance. Geographical overview
- Project Company and its' relationship with counterpartners,Financial architecture of Project Finance
- Multiple instruments of Project Finance and analyzes of their effectiveness
- Effectiveness of Projects, definition of Project Finance scale
- Banking Project Finance –instruments and effectiveness. Credit and Pledge Monitoring
- Credit analyzes of borrower – project company
- Risks of project finance
- State and Private Partnership and concessions
Assessment Elements
- Attending lecturesAttendance at lectures, concentration on the topic under discussion, interactive interaction with the teacher.
- TestThe purpose of the test is to assess knowledge on topics covered during the course.
- CaseAn individual assignment designed to enable students to apply knowledge gained in the course to solve real-world problems. The case must be completed during the workshop and will be collected through SmartLMS. Detailed instructions will be provided to students during the course.
- ExamThe final exam is a test with questions that cover the entire course. Conducted offline in the classroom
Interim Assessment
- 2023/2024 2nd module0.1 * Attending lectures + 0.3 * Case + 0.3 * Exam + 0.3 * Test
Bibliography
Recommended Core Bibliography
- Проектное финансирование : учебное пособие / М. В. Аликаева, М. Б. Ксанаева, Б. В. Казиева [и др.]. — Нальчик : КБГУ, 2019. — 135 с. — Текст : электронный // Лань : электронно-библиотечная система. — URL: https://e.lanbook.com/book/170855 (дата обращения: 00.00.0000). — Режим доступа: для авториз. пользователей.
Recommended Additional Bibliography
- Поташева, Г. А. Проектное финансирование: синергетический аспект : учебное пособие / Г. А. Поташева. — Москва : ИНФРА-М, 2019. — 384 с. — (Высшее образование: Бакалавриат). - ISBN 978-5-16-005631-9. - Текст : электронный. - URL: https://znanium.com/catalog/product/1015077