A comparison of Project Finance and the Forfeiting Model as financing forms for PPP projects in Germany

Daube, Dirk; Vollrath, Susann; Alfen, Hans Wilhelm

doi:10.1016/j.ijproman.2007.07.001

Cited by 61 publications

(28 citation statements)

References 8 publications

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“…In project finance, lenders and investors rely either exclusively ("non-recourse" financing) or mainly ("limited recourse" financing) on the cash flow generated by the project to repay their loans and earn a return on their investments (EPEC, 2011). In contrast to corporate finance, the lender does not consider the overall financial strength or balance sheet of the sponsor as a prerequisite to lending for a project, but primarily rely on the revenue stream generated by the project itself (Daube et al, 2008). The debt and equity used to finance the project are paid back from the cash flows generated by the project (Gatti, 2013).…”

Section: Financing For Pfimentioning

confidence: 99%

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Financing Preference Behaviour for Private Finance Initiative (PFI) Projects

Lasa¹,

Ahmad²,

Takim³

2016

E-BPJ

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Project Financing Initiative (PFI) projects require the private sector to invest an enormous amount of capital for the development of public projects. The private sector has to seek cost-effective financing sources for their survival in the long-term concession. Conventional financing uses widely; however, Islamic financing promises better financing through profit and loss sharing. This paper reviews financing preferences for PFI projects and the factors influencing the choice of funding. The results show that religious perspective, quality of services, financing facilities and reputation are the factors that are expected will influence the financing preference behaviour, either Islamic or conventional finance.

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Section: Financing For Pfimentioning

confidence: 99%

“…Adapted from Daube et al(2008) According to EPEC (2011), during the PFI proposal evaluation, the public authority has to assess the bankability of the proposed project contract. They should also realise the project financing arrangements and their consequences.…”

Section: Financing For Pfimentioning

confidence: 99%

Financing Preference Behaviour for Private Finance Initiative (PFI) Projects

Lasa¹,

Ahmad²,

Takim³

2016

E-BPJ

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“…For example, recent adopters of PPP such as China and India have preferred lease-based schemes for road projects, because end-user based revenue streams are deemed unreliable (Boeing and Kalidindi, 2006;Chen, 2009;Chen et al, 2006). Western countries such as the U.S., U.K., France, and Australia have also increased the use of lease-based schemes, called unitary or availability payments, as they have found that projected end-user fees are often over-optimistic and create liquidity problems (Aziz, 2007;Daube et al, 2008;Garvin, 2010;Treasury, 2007). A downside of the lease-based scheme is that the rate of return is typically modest, as there is less risk than an end-user based fee scheme.…”

Section: Introductionmentioning

confidence: 99%

A multi-objective linear programming framework for evaluating the financial viability of supplementary facilities in Build-Transfer-Lease projects in Korea

2011

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Since 2005, the Build-Transfer-Lease (BTL) scheme has been successful in delivering projects such as schools and government housing to the general public while relieving the fiscal constraints of the Korean government. Recently, the inclusion of 'supplementary' facilities to the main BTL project has been posited as an alternative solution to increase a BTL project's rate of returns. However, the absence of a structured approach to evaluate the financial viability of this modified scheme has thus far made its use restrictive. Determining the viability of the modified scheme requires identifying the relative project size of the supplementary facility and the appropriation of the additional revenue between the government and concessionaire that ensure that both parties benefit, while accounting for the increased risk in liquidity. This research proposes a framework using multi-optimization linear programming and Monte Carlo simulation that determines the optimal size of the supplementary facility and the appropriate revenue distribution ratio that minimize government payments and maximize the internal rate of return, while maintaining positive project cash flows. A retrospective case study on a military housing project demonstrates that using the proposed framework enables the addition of a shopping mall which increases the overall rate of return while minimizing the risks of the project.

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“…Este modelo brinda mucha informaci6n, pero no procedimientos, incluye varias definiciones pero no una descripci6n de como aplicar facilmente las tecnicas requeridas; contiene entradas y salidas de procesos (inputs y outputs), pero no mejores practicas desde el punto de vista de lo que implica la gestiOn real de un proyecto [1].…”

Section: Introduccionunclassified

Modelos para la Gestión de Proyectos

Agudelo

Rodríguez

2007

Inf. Téc.

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HEste articulo presenta un analisis de algunos modelos que son utilizados para la gestibn de proyectos, destacando de manera especial los procesos en que se basan cada uno, para realizar su gestiOn, permitiendo entrever las habilidades que debe tener un proyectista, para asegurar el exit° en la ejecuciOn de un proyecto, asi como obtener los resultados planteados y comprometidos con el cliente. Palabres Cleves: DirecciOn de Proyectos, planificaciOn, control, coordinaci6n y ejecuciOn de proyectos. Abstr-ertThis article presents an analysis of several models used for project management, focusing mainly on the process by which they are based for management. This analysis shows the skills needed for a project director in order to succeed in the project's execution, and to obtain the better results to the customer requirements.Informador TEcnico 71 I 53 Key V Projects Management. ProjectPlanning, Controling, execution and coordinating of project. IntroduccionAtravés del tiempo, las organizaciones han empleado metodologias y estructuras diversas para la gestion de proyectos; cada metodologia y modelo tienen su propia forma de establecer procesos, procedimientos, practicas y plantillas necesarias para gestionar exitosamente proyectos.Se pueden identificar tanto grandes similitudes como diferencias entre las metodologias existentes dependiendo del enfasis de cada una. Es necesario entonces conocer el fundamento y las herramientas existentes para sacar el mejor y mayor provecho de ellas.A nivel mundial las metodologias más utilizados en el gerenciamiento de proyectos son las propuestas por

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A comparison of Project Finance and the Forfeiting Model as financing forms for PPP projects in Germany

Cited by 61 publications

References 8 publications

Financing Preference Behaviour for Private Finance Initiative (PFI) Projects

Financing Preference Behaviour for Private Finance Initiative (PFI) Projects

A multi-objective linear programming framework for evaluating the financial viability of supplementary facilities in Build-Transfer-Lease projects in Korea

Modelos para la Gestión de Proyectos

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