FEATURES OF FINANCING INNOVATIVE PROJECTS OF INTERNATIONAL TECHNICAL COOPERATION
Abstract
The proposed and substantiated recommendations on the specifics of financing international technical cooperation projects can be used in practice by Ukrainian enterprises. When a person decides to start his own business or expand an existing one, one of the main problems is the capital to implement this idea. In this case, own (savings, retained earnings), borrowed (corporatization, expansion of the authorized capital) or borrowed funds (various types of loans, bond issue, etc.) can come to the rescue. Alternative sources of project financing, such as crowdfunding, venture capital investments, and business angels, have also been developed. At the same time, it is important to make such a decision on raising funds that will be most effective, so that the structure of funding sources is as good as possible. In the context of the development of the European integration process, in which Ukraine actively participates, the importance of balanced and fair, non-discriminatory development of its foreign economic, in particular, foreign trade relations with European partner countries is sharpened. The creation of an appropriate regulatory framework for financing innovative projects will open up prospects for the further development of entrepreneurial activity, in particular «Okko-Drive» Petrol Station LLC. To ensure further international cooperation of our country in the innovation and investment sphere and to promote economic growth in general, it is necessary, first of all, to actively intervene in the stimulation, encouragement, protection of foreign partners, creation of a favorable investment climate, rational use of financial and production resources, overcoming the imperfection of the tax and legal systems. The article defines the essence and meaning of the concepts of " financing " and "international technical cooperation". The features of international technical cooperation of Ukraine are considered. The essence of international technical cooperation and financing of innovative projects is defined. The sphere of financing of innovative projects of «Okko-Drive» Petrol Station LLC is studied. And recommendations have been developed for the implementation of financing of innovative projects of «Okko-Drive» Petrol Station LLC in the context of international technical cooperation.
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