British experience in PPP implementation

The article outlines the functioning of the mechanism of the private finance initiative. The study describes its difference from the traditional procurement system as well. Several reasons of reforming the PFI model and the main innovative features of the PF2 model are analyzed. The paper provides the case studies for implementing the public-private partnership in Great Britain within the PFI/PF2 models. The practical experience of these projects is represented in four leading sectors which apply the mechanism of the private finance initiative in the UK: healthcare, education, the military-industrial complex, and transport. Based on mistakes that have been made during the implementation of the projects in Great Britain, the solutions of problems are proposed. In addition, the author develops recommendations for applying the mechanism of the public-private partnership in the Russian Federation. In particular, it is suggested to create a consultative institution at the pre-investment stage of the project. Moreover, when selecting the applicant to participate in the project, the level of the employee’s professional training of the applicant company should be taken into account.