Nargiza kasimova farkhod mukhamedov elkan harebov

partnerships in different ways determine the timing of this phenomenon. In 1552 
France attracted private capital for the construction of canals on concession 
terms,  in the XVIII-XIX centuries British road building trusts financed the 
construction of roads and London bridges, using borrowed funds from private 
investors. 
At the beginning of the XX century, various forms of cooperation between 
business and government agencies in the construction of water supply, sewage, 
railways, and others were further developed. 
The modern period of public-private partnership began with major projects 
to restore and rebuild urban infrastructure in North Rhine-Westphalia, while the 
necessary changes were made in the structural policy and the shortcomings of 
public funding were identified. 
Recently, German scientists recently conducted a substantive analysis of 
91 implemented projects (at the stage after the conclusion of an agreement 
between the state or the municipality and a private agent) showed the average 
efficiency of public-private partnerships compared to traditional forms of 
cooperation between the state and business, at the level of 14.6%. At the same 
time, a certain regularity was established in changing the level of effectiveness 
of certain projects depending on the size and scale of investment, which allows 
us to tentatively talk about the optimal size of public-private partnerships. Thus, 
with investment costs of less than €10 million, 12% of funds were saved, for 
projects within €10–25 million, this figure averaged 14.4%, and between 
€25−50 million  —  13.2% and, finally, for large projects worth more than 
50 million euros — about 16.2% (thus, when implementing larger projects, the 
greatest economic effect is achieved) (Delmon, 2009). 
The project for the reconstruction of Germany’s largest airport in Frankfurt 
am Main was recognized as a successful model for the effective combination of 
public and private partnership interests. The project involved a preliminary stage 
of privatization —  the issue of shares, 29% of which were sold on the stock 
exchange (an analogue of “people’s” IPOs). The remaining shares were held by 
the state of Hessen (32.1%), the city of Frankfurt (20.5%) and the state (18.4%). 
Thus formed PJSC “Fraport” deliberately retained control of public investors, 
while the enterprise is a “private” shareholder of other German airports, that is, 
the “private” side of partnerships in them is represented by a structure with 
predominantly state participation (Deryabina, 2010). 
 
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Assessing the dynamics of the development of public-private partnership 
projects in the EU, it should be noted that the volume of such agreements 
steadily increased until 2007. However, the global crisis of 2008 significantly 
reduced the activity of the interaction of the private sector with government 
agencies. However, already the 2010 results clearly demonstrated the 
Europeans’ readiness to restore the pre-crisis volumes in the short term to the 
maximum indicators of 2007 —  €29.6 billion, and in the future —  even 
exceeding them. 
From 1990 to 2010, the EU implemented 1,452 public-private partnership 
projects worth €272 billion. In 2010, 112 projects worth 18.3 billion euros were 
implemented, with education and healthcare accounting for €6.5 billion 
(Загородников, 2010). 
Separately, it is worth noting that in several Eastern European countries in 
the late 1990s — early 2000s. In connection with preparations for EU accession, 
public-private partnership mechanisms have been actively used in the transport 
infrastructure and urban sectors. Projects to attract private investment in 
expanding the network of highways, upgrading ports and airports are being 
implemented on the basis of structural assistance from the EU, and the specific 
experience has been mixed: along with successful there were cases of 
problematic, not always successful solutions (Савицкая, 2000). 
An example of an effective public-private partnership project in Eastern 
Europe is the expansion and modernization of the international airport in 
Warsaw. More than 85% of passengers on international flights preferred the 
Warsaw airport, and this required a relatively short time to ensure that the 
passenger and cargo turnover of the airport was almost doubled. Without private 
capital and know-how, such a project would not have been possible. According 
to the results of the open European competition, the German company Hochtief 
AG acted as a private partner of the project, having developed a special model 
for financing public-private partnerships for airports in Central and Eastern 
Europe. A consortium was formed, which on the rights of partners included 
small and medium enterprises in Poland and Germany. Private financing was 
provided by a consortium of banks led by Citibank. Loan recipient and state