Modern aspects of urban infrastructure development by means of public and private partnership

The purpose of the article is to study modern aspects of the development of the infrastructure of Russian cities by means of public and private partnership. The paper identifies and systematizes the advantages and risks for the state, business and the population connected with the use of public and private partnership in urban infrastructure. This research made it possible to develop measures aimed at the reduction of the exposure of public and private partnerships to these risks (improvement of risks distribution and obligations, creation of an effective motivation system, reference forecasting use, and so on). The analysis and assessment of the current state of public and private partnership in the urban infrastructure of Russia are made and then measures are suggested to overcome obstacles in achievement of high ranks of cities in terms of infrastructure development. It is concluded that public and private partnership in urban infrastructure contributes to a successful creation of a number of risks connected with modern challenges (adverse climate change; environmental, energy and pandemic crises) and, as a result, lays the foundations for the creation of infrastructure with high economic, social, environmental and institutional sustainability. Modern challenges in conditions of extremelyhigh instabilitymake it necessary to improve state approaches to planning and regulation of public and private partnership projects in urban infrastructure, in particular, by improving the qualityof legal support and institutional environment, as well as the effectiveness of the process ofcreation and adaptation of targeted qualitative and quantitative public and private partnership facilities in urban infrastructure, and so on. At the same time, it is important that these projects have such characteristics as inclusiveness, focus on sustainable (including green) development, viability, flexibility. The methodological basis of the research presented in the article consists of general scientific methods of cognition of economic and financial phenomena and processes. The methods of analysis, synthesis, observation and others are used in the paper. The practical applicability of the materials presented in the article lies in the possibility of their use in decision-making to ensure sustainable infrastructural development of Russian cities using public and private partnership.