International Journal of Business and Economics Volume 14, No. 2 December, 2015

Project Finance Recent Applications and Future Trends: The State of the Art

A. Garcia-Bernabeu

Universitat Politècnica de València , Spain

F. Mayor-Vitoria

Universitat Politècnica de València , Spain

F. Mas-Verdu

Universitat Politècnica de València , Spain

Abstract

This paper provides a review of the state of the art of project finance methodology. The growing body of literature in this field serves to emphasize the increasing use and new areas of application of project finance techniques. The paper attempts to describe the main features of project finance, to explain the role of the participants, and the main contractual arrangements. Reviewing the state of the art of project finance provides a special opportunity to draw attention to the main challenges of this technique and to identify new trends.

Keywords：project finance, public-private partnerships, literature review.

JEL Classifications： D53, F30, G15, G30.

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