Integration of crowdfunding into the public-private partnership system: conceptual foundations and implementation mechanisms

The article substantiates the conceptual foundations and practical mechanisms for integrating crowdfunding into the pub-lic-private partnership (PPP) system as an innovative tool for diversifying the sources of financing public projects and increasing their socio-economic efficiency. Based on the analysis of international experience, particularly the results of the Financing for Society project (University of Leeds), effective models of combining crowdfunding with PPP have been identified – from municipal community bonds (crowdbonds) to hybrid co-financing formats in the fields of energy, social infrastructure, and healthcare. The concept of resilient partnership “government – business – society” is proposed, combining the institutional stability of the state, the innovativeness of the private sector, and the social initiative of citizens. The practical significance of the results lies in the possibility of applying them to develop a national system of civic co-financing for reconstruction, energy modernization, and social infrastructure development based on the principles of transparency, trust, and shared responsibility.