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Principles of Project Finance, 2nd Edition by E. R. Yescombe

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Chapter 17

Recent Market Developments and Prospects for Project Finance

This final chapter reviews the direct and indirect effects of the 2008 financial crisis on the project-finance market.

Although banks’ credit losses on project-finance loans were not significant after 2008, liquidity of such loans has been a major issue (§17.2), accentuated by the ‘Basel III’ requirements (§17.3). The encouragement of non-bank lenders into the project-finance market, especially for infrastructure, has been a priority in the countries worst affected by declines in bank lending (§17.4), and improving the credit risk of project-finance transactions is seen as a key part of this process (§17.5). New models for project-finance structures may be relevant in a few ...

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