Development of infrastructure projects with private engagement through PPP has become one of the commonly adopted procurement strategies in developed and developing countries. All over the world where PPP procurement has been used in one form or another, the way in which it is carried out has...

This paper characterizes when joint financing of two projects through debt increases expected default costs, contrary to conventional wisdom. Separate financing dominates joint financing when risk-contamination losses (associated to the contagious default of a well-performing project that is...

Project finance is the process of financing a specific economic unit that the sponsors create, in which creditors share much of the venture’s business risk and funding is obtained strictly for the project itself. Project finance, often used for capital-intensive facilities and utilities, is...

Structured finance (SF) – project finance (PF) loans and asset securitization (AS) bonds – and straight debt finance (SDF) – corporate bonds (CB) – transactions are priced in segmented capital markets. Credit spreads are higher for PF loans than they are for AS and CB issues. SF and SDF...

In recent years, the importance of PPP has increased - but the projects still remain focused and concentrated in the infrastructure / transport industry. Public-private partnership in some areas of the cultural sector could provide many benefits to both par-ties. There is at present an absence...