高速公路PPP项目贷款融资决策研究

Research on loan financing decision of the highway PPP project

贷款融资作为PPP项目常用的一种融资模式,有效地解决了PPP项目融资困难的问题。在贷款融资时,项目公司可通过合适的贷款计划和偿还计划使项目的投资回报达到最大。为实现项目的投资回报最大化,基于项目自身的偿债能力,以项目在建设期和运营期每年的贷款额以及项目每年偿还的本金和利息额作为决策变量,建立高速公路PPP项目的贷款融资决策模型,得出高速公路PPP项目在建设期和运营期的贷款计划和偿还计划。结合算例进行分析,充分证明了模型的有效性,为高速公路PPP项目的贷款融资决策提供参考。

As a commonly used financing model for PPP projects, loan financing effectively solves the problem of financing difficulties of PPP projects. When loan financing, the project company can maximize the return on investment of the project through appropriate loan plans and repayment plans. In this article, in order to maximize the return on investment of the project, based on the solvency of the project itself, taking the loan amount of the project during the construction period and operation period as well as the principal and the interest amount repaid by the project each year as the decision variables, a decision model of financing for the highway PPP project was established. By the model calculation, the loan plan and repayment plan of the highway PPP projects during the construction period and operation period are obtained. The model is applied in the analysis of an example, which fully proves the validity of the model and provides a reference for the loan financing decision of the highway PPP project.