Global experience in financing sustainable development in the passenger transport sector

Abstract

The article aims to develop an effective financial mechanism for the implementation of investment projects by passenger transport companies. To achieve this objective, a range of established scientific methods were employed during the research: generalisation methods were used to summarise theoretical approaches to the development of financial mechanisms and to draw general conclusions; the comparison method was used to contrast different approaches to creating an effective mechanism and its components. In addition, methods of logical generalisation and analysis were employed, which enabled the formulation of principles, methods, and tools for implementing the mechanism for the financial support of investment projects in transport enterprises, and the substantiation of conclusions regarding the effectiveness of the proposed mechanism.  Results. This paper examines the process of developing a mechanism for financing investment projects in the transport sector. It has been established that the mechanism for the financial support of investment projects is a multi-level system comprising principles, methods, instruments, financial levers, and regulatory support. Its main implementation stages have been identified. Conclusions. The development of an effective mechanism for the financial support of transport enterprises’ investment projects is a key condition for their modernisation, increased competitiveness and sustainable development in the context of limited financial resources and high investment risks. Its effectiveness is determined by a comprehensive combination of funding sources, effective management of financial flows, and appropriate institutional and regulatory support.