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The paper determines the relevance and purpose of the study. The characteristic and functions of a special purpose vehicle of project financing are presented. The conditions of project lending are described. The ways of ensuring financial stability of the investment and construction project at various stages of its life cycle are considered. At the preinvestment stage, the financial model and budget of the project are considered as a mechanism for ensuring the sustainability of the project. Thedoi:10.1051/e3sconf/201913802021 fatcat:greadwnkbbfqhh7vlg4ednv76i