Innovative Tools for Increasing the Openness and Transparency of Public-Private Partnership Projects

Aim. The presented study aims to identify the most effective tools for increasing the openness and transparency of public-private partnership projects for the purpose of developing recommendations to improve the efficiency of public-private partnership project management in the Russian Federation. Tasks. The authors analyze the international experience of ensuring the accountability of public-private partnership projects and using modern tools to improve the collection, disclosure, and use of data and information on public-private partnerships of international organizations; identify the most effective models for assessing the financial risks of public-private partnerships; determine directions for improving the efficiency of public-private partnership project management in the Russian Federation.Methods. This study uses general scientific methods, such as analysis, generalization, and classification. Analysis of foreign practices and tools is used to identify major tools and directions for increasing the openness and transparency of public-private partnership projects in Russia. Results. When examining international experience, the authors emphasize international approaches to risk management in public-private partnership projects, consider conditional budget obligations, which are assumed by public partners in public-private partnership projects along with direct obligations, the volumes and terms of payments for which are probabilistic and scenario-based. International principles and standards in the field of public-private partnerships of various organizations of the UN system, the International Monetary Fund (IMF), the Organization for Economic Cooperation and Development (OECD), and the World Bank Group are examined and analyzed. The analysis of innovative tools for improving the collection, disclosure, and use of data and information on public-private partnerships of international organizations (UN, IMF, OECD, World Bank Group) makes it obvious that special attention is paid to the openness of public-private partnership projects and to the public awareness of its relative costs, benefits, and risks in particular. International organizations believe that governments should develop and include in the implementation of public-private partnerships a consultation process commensurate with the scale of the project, taking into account the common public interests and opinions of stakeholders. This process should have a broad basis, facilitate dialogue, rely on public access to information and the needs of users. Conclusions. The relevance of developing effective tools for ensuring the openness (transparency) and accountability of public-private partnership projects is apparent. In this context, transparency implies not only the openness of information, but also adequate opportunities for parliamentary control and public consultations. Systems should be established at all levels of government to ensure regular collection of relevant data and institutional responsibility for their analysis, dissemination, and examination. Such data should be disclosed to the public in an accessible form and in a timely manner. This ensures the government's confidence in public finance management and increases the confidence of businesses and the population in the market. Financial transparency improves the efficiency of financial decisions and holds governments accountable for their financial performance and for the management and use of public resources.