Impact of the pandemic on the implementation of concession agreements
Abstract. In recent years, concession agreements have proved to be a popular form of implementation of infrastructure projects in various industries. The article investigates changes in the market of concession agreements with the emergence of a new coronavirus infection COVID-19. At the same time, the purpose of this article is to demonstrate the main development directions of concession agreements in the context of the pandemic. The main methods of achieving the set goal were the methods of comparative and structural analysis, as well as the method of generalization of the analyzed material related to the research topic. The article analyzes the results of monitoring the conclusion and implementation of concession agreements for 2019 and 2020. The results of the analysis allowed us to conclude that there is no catastrophic drop in investor interest in the implementation of infrastructure projects using the concession agreement mechanism. Particular attention is paid to the consideration of the increased risks of the implementation of concession projects during the pandemic, including construction, temporary risks, as well as the risks of financing the concession project. At the same time, the measures currently being implemented to reduce these risks are given. The scientific novelty of the article consists in analyzing the feasibility of implementing infrastructure projects using the concession agreement mechanism, taking into account the prevailing epidemiological conditions.
Keywords: the pandemic and concession agreements, the implementation of concession agreements, the rise in the cost of construction, the risks of implementing concession projects
Highlights:
♦ the impact of the pandemic on the implementation of concession agreements is assessed;
♦ the risks of implementing concession agreements in modern epidemiological conditions are determined.
Sergey S. Igoshin, Financial University under the Government of the Russian Federation, Moscow, Russia,