论文部分内容阅读
本文所论及的是广义上的项目融资。它包括“纯”项目融资。在该类融资活动中,借款人是一个典型的专为实施所议项目而设立的法律实体(这类法律实体常常是由项目主持人组成的合资企业,以下简称“项目公司”),贷款人则将项目预计流转资金和项目收益视为其主要“担保”。项目融资还包括给予既存借款人的贷款(如一国政府或其代理机构,或在项目所在国已有经营活动的公司),这类借款人在所议项目之外还主持有大量的经营活动。在这种情况下,贷款人就不仅要考虑到所议项目的可行性,而且还要考虑到借款人整个的财政可靠性。
This article deals with project financing in a broad sense. It includes “pure ” project financing. In this type of financing activities, the borrower is a typical legal entity set up specifically for the implementation of the proposed project (such legal entity is often a joint venture consisting of the project host, hereinafter referred to as the “project company”), Lenders view the estimated project proceeds and project proceeds as their primary “guarantee.” Project financing also includes loans to existing borrowers (such as a government or its agency, or companies that already have operations in the country where the project is located), who also host a large number of operating activities in addition to the ones discussed. In this case, the lender should take into account not only the feasibility of the project under discussion, but also the borrower’s overall financial reliability.