Author Description

Financing Large Projects is one of the most comprehensive books written on the art of project finance. Project finance is a technique employed for the purpose of mobilizing capital for very large start-up projects, or greenfields, based on the cash flow merits of the project--usually with little or no external support provided by parent companies in the form of guarantees. Unlike other books, this one addresses the financial, technical, legal and environmental aspects of financing complex projects. In explaining the principles involved, the authors followed the project development cycle illustrating how projects are evolved from inception, usually through international competitive bidding, to financial closure when all debt and equity needed to construct and operate the project that has been mobilized. The book is particularly thorough in explaining the criteria used by bankers and lawyers to distinguish projects that are bank-able from those that are not. In the revised edition, two new chapters on Public Private Partnerships and Environmental Impact Assessment and Mitigation (including Equator Principles) have been added. In addition, data and information have been updated.