Abstract
The term "project financing" is often used to describe all types of project financing, but in recent years it has evolved towards a more precise definition, so that it implies the financing of a particular economic unit in which lenders are comfortable to rely initially on the cash flow and income of these economic units, which the loans will be repaid from, and on the property of that economic unit as collateral for the given loan. Project funds can be adequately used to finance the defense system. They generally fall into the category of development priorities and usually enjoy numerous benefits (primarily tax and customs benefits) provided by the host country of a project, which generally generates more income for participants in project financing than when it comes to conventional credit. The BOT model for financing infrastructure projects has a number of potential benefits and it is an effective alternative in many countries with a more traditional approach to using government borrowing or state budget, with the government retaining strategic control over the project which will become public sector property.
Publisher
Centre for Evaluation in Education and Science (CEON/CEES)
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