Abstract: A new infrastructure project financing decision model is constructed by systematically analyzing of project financing modes. It uses the hierarchical decomposition method to decompose the complex project financing mode decision problem and its corresponding evaluation indexes. It uses the Delphi method to evaluate these indexes. Because expert advice is characteristic of fuzzy and uncertainty, expert advice is converted into triangular fuzzy numbers by using the triangular fuzzy language variables. And the fuzzy decision judgment matrixes are constructed. Synthesis weights of all alternative models are obtained and the decisions are made by transforming the judge matrixes and calculating their vectors together with Analytical Hierarchy Process（AHP）. The practical case shows that the proposed model provides a good method for the urban infrastructure project finance decision making.

Key words: triangular fuzzy numbers, Analytical Hierarchy Process（AHP）, project financing, decision model

摘要： 通过对项目融资模式进行系统分析，构建了一个全新的基础设施项目融资模式决策模型。运用层次分解法将复杂项目融资模式决策问题进行分解简化，采用德尔菲法专家打分对备选模式对应的分解指标进行评价。针对专家意见具有模糊性和不确定性的特点，运用三角模糊语言变量，将专家意见转换成三角模糊数并构建模糊决策判断矩阵，再结合层次分析法（AHP）对判断矩阵进行模糊变换和向量计算，得到备选模式综合权重并据以做出决策。最后进行实例验证，为城市基础设施项目融资提供决策参考。

关键词: 三角模糊数, 层次分析法（AHP）, 项目融资, 决策模型