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Project finance in developing countries: case studies of the energy sector in Colombia

Author

Listed:
  • Carlos Humberto Monsalve López

    (Especialista en Finanzas y Magister en Administración Financiera por la Universidad EAFIT. Profesor de la Universidad Católica de Oriente de Rionegro, de la Universidad Pontificia Bolivariana de Medellín y de la Institución Universitaria Salazar y Herrera de Medellín.)

  • Néstor Moreno Meza

    (Magister por la Universite Catholique De Louvain Diplome Special En Gouvernement Et Administration y Magister por la Universite De Anvers Centre Universitaire de L´etat Gestion Financiere Publique)

Abstract

This document aims to determine the advantages of project finance or structured projects for developing countries. In this sense, it analyses how this modality allows to share and to detail some possible risks of a project between an interested country and the parties involved, identifying the different guarantees, the participation of insurance companies and the way they negotiate cash flows as contracts back up. The literature review demonstrates the need to create partnerships or corporations with the specific purpose of looking after infrastructure projects to reach agreements between the different parties involved in financing, such as the State and the sponsor’s shareholders, as well as in the definition of the obligations and rights of each one.

Suggested Citation

  • Carlos Humberto Monsalve López & Néstor Moreno Meza, 2018. "Project finance in developing countries: case studies of the energy sector in Colombia," Economía, Instituto de Investigaciones Económicas y Sociales (IIES). Facultad de Ciencias Económicas y Sociales. Universidad de Los Andes. Mérida, Venezuela, vol. 43(45), pages 125-145, January-J.
    • Handle: RePEc:ula:econom:v:43:y:2018:i:45:p:125-145
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    More about this item

    Keywords

    Cash flow; risk; sponsors; project finance.;
    All these keywords.

    JEL classification:

    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • O22 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Project Analysis

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