D.Com. (Business Economics) / A clear distinction should be made between the straightforward financing of a project and project finance itself. In short, project finance can be defined as the financing of a particular economic unit with the aim of the financial structuring to be such that there is as little recourse as possible to the sponsor of the project and the lender is thus satisfied to look at the cash flows and earnings as the source of repayment and the assets of the project as security. Usually, project finance would incorporate all or some of the following characteristics namely, off balance sheet financing, recourse limited to the pre-commissioning stage, an element of fixed rate debt, utilisation of tax allowances, optimisation of tax position, long term finance and some degree of foreign exchange activity. If the project is sponsored by an existing company, it will be looking to maximise debt, minimise recourse and group tax liability, optimise financial costs and retain or improve financial ratios after consolidation of the project. However, the degree of project financing appropriate for any project depends on what lenders are prepared to accept and what sponsors are prepared to provide in order to let the project become a reality. The project financier's role is to formulate financial structures, assess financial feasibility, develop funding proposals, secure sources of finance and to manage the financing facilities once they are in place. A project sponsor employs a project financier because the latter is objective, impartial, has access to required information and is able to process it into a professional presentation to the financial community, has the experience and expertise to advise on the most appropriate and cost effective financing structure and is best equipped to perform a thorough project financial analysis. This study has been undertaken to point out the differences between project finance and finance for a project, to identify the role of project financier and is as such largely concentrated on the financial side of a project. The goal was to discuss the importance of project finance from the financial institutions' viewpoint and to identify those aspects that would be important to a project advisor or lender. Although relatively little has been published on project finance, it is a multidisciplinary subject and references have been used wherever available. The author's attendance at seminars on the subject, as well as discussions with international project financiers and bankers have also contributed to the understanding of the subject. In addition to an in-depth exposure to project finance in South Africa, several months have been spent with an international bank's project finance division in London.

by Tang Yee On. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1998. / Includes bibliographical references (leaves 56-60). / ABSTRACT --- p.ii / TABLE OF CONTENTS --- p.iii / ACKNOWLEDGMENTS --- p.v / Chapter / Chapter I. --- INTRODUCTION --- p.1 / Thesis --- p.3 / Background --- p.4 / Thailand Economy and State-Owned Enterprises --- p.5 / Privatization Program of State-Owned Enterprises --- p.6 / Chapter II. --- THE PRIVATE PARTICIPATION PROGRAM OF THAI ELECTRICITY GENERATING INDUSTRY --- p.8 / The Four-Step Plan of Restructuring the Thai Electricity Power Sector --- p.9 / Electricity Generating Authority of Thailand --- p.10 / Electricity Generating Public Company Limited --- p.11 / Rayong Electricity Generating Company Limited --- p.11 / Khanom Electricity Generating Company Limited --- p.12 / Chapter III. --- PRIVATIZATION PROJECT OF KHANOM --- p.13 / Power Purchase Agreement (PPA) --- p.13 / Financing Plan --- p.16 / Equity Financing --- p.17 / Debt Financing --- p.18 / The Deal of Khanom --- p.18 / Chapter IV. --- THE IMPACT OF ASIAN FINANCIAL CRISIS ON THE INFRASTRUCTURE PROJECTS IN THAILAND --- p.20 / The Financial Crisis in Thailand --- p.20 / Thai Government Reaction --- p.22 / The Electricity Industry --- p.23 / Electricity Generating Authority of Thailand (EGAT) --- p.24 / Small Power Providers (SPP) --- p.27 / Independent Power Providers (IPP) --- p.27 / Other Electricity Projects --- p.28 / Other Infrastructure Projects: Hopewell BERTS --- p.29 / Chapter V. --- ANALYSIS --- p.34 / Benefits of the Private Participation Program --- p.34 / Importance of Project Finance in Infrastructure Projects --- p.36 / Impact of Financial Crisis on the Projects --- p.37 / Tariff Structure of KEGCO --- p.38 / Government Reaction After the Financial Crisis --- p.40 / Market Responses --- p.41 / Future Developments --- p.42 / Privatization Experience in the United Kingdom --- p.45 / Chapter VI. --- "SUMMARY, CONCLUSIONS AND RECOMMENDATIONS" --- p.46 / APPENDICES --- p.48 / BIBLIOGRAPHY --- p.56

The purpose of the study was to assess funding and support provided for development projects in Kenya and South Africa. The focus was to identify comparisons and differences in development, funding and national development priorities in both countries. The study was carried out in Kenya and South Africa. Through purposive sampling, six organizations were selected as the units of analysis. Data was collected by means of questionnaires, interviews, national policies and written records. Six major themes emerged from the data collected. They included (a) the purpose and internal structure of the organization (b) programs and projects supported (c) sustainability and continuation (d) internal and external factors affecting the organization (e) conditions (f) the aid-chain. The findings indicated that despite the differences in both countries, poverty remained a national priority. In both countries, factors such as inflation rates, conditions tied to aid and internal and external factor affected the development organizations and their operations. Suggestions were made to development organizations for optimal development. / Thesis (M.A.)-University of Natal, Durban, 2003.

by Leung Ada Nga Ting, Tsang Hin Kwok. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1996. / Includes bibliographical references (leaves 96-104). / ABSTRACT --- p.ii / TABLE OF CONTENTS --- p.iii / LIST OF FIGURES --- p.vi / LIST OF APPENDICES --- p.viii / ACKNOWLEDGEMENTS --- p.ix / Chapter / Chapter I. --- INTRODUCTION --- p.1 / Chapter II. --- NEW WORLD DEVELOPMENT CO. LTD --- p.3 / Introduction --- p.3 / Thesis --- p.3 / Company Background --- p.5 / Entrance into the Power/Infrastructure Business --- p.8 / The Spin-off of New World Infrastructure Ltd. (NWIL) --- p.9 / The Group's Strategy On Its Infrastructure Investments --- p.13 / Major Dates / Events --- p.14 / Analysis --- p.17 / New World's Project-Financing Structure --- p.17 / "Possible Reasons Underlying The ""Suboptimal"" Project-Financing Structure" --- p.19 / Strong Financial Affordability --- p.20 / Lack Of Access To External Project Debt Financing --- p.20 / Policy Not Welcome Use Of External Debt --- p.22 / The Structure Is Really Not So Suboptimal After All --- p.23 / Infrastructure Development As Only A Chinese Investment Vehicle --- p.24 / A Very Unique Set Of Arrangements At The Project Level --- p.34 / Extension Of Joint Venture Terms --- p.35 / PRC Joint Venture Partner Directly Bears The Losses Suffered By The Group --- p.35 / Renegotiation Of Revenue Terms To Ensure Repayment Schedule --- p.36 / Priority & Guaranteed Repayment Schedule On New World's Principal And Interest Payments --- p.36 / Limited Or No Responsibilities For Cost Overruns Or Delays --- p.39 / Guaranteed Minimum Revenues --- p.40 / Market Interpretations Of New World's Infrastructure Venture --- p.41 / Conclusions --- p.43 / A Final Assessment --- p.44 / Concluding Words --- p.45 / Chapter III. --- HUANENG POWER INTERNATIONAL INC --- p.47 / Introduction --- p.47 / Thesis --- p.47 / Company Background --- p.48 / HIPDC --- p.48 / The Formation of HPI --- p.48 / The Reorganization of HPI --- p.50 / Asset Transfer --- p.51 / Debt Transfer --- p.51 / Combined Offering (IPO) --- p.52 / Post-Offering Ownership --- p.53 / Major Events --- p.55 / Analysis --- p.57 / The New Tariff Setting Regulatory Policy And Its Advantages --- p.57 / Old Tariff Structure --- p.57 / New Tariff Structure --- p.58 / Tariff Rate Tied Into The Net Fixed Assets --- p.59 / The Result Of The NFA-Tied Rate Calculation --- p.61 / Other Features Of The Pricing Policy Include The Following: --- p.62 / A Capital Structure That Reduces Risk --- p.62 / Reviewing The Performance of HPI --- p.65 / An Analysis of The Performance of HPI's Stock Price --- p.65 / No Dividends Policy --- p.65 / Lack Of Confidence In The Chinese Government --- p.65 / Environmental Factors --- p.66 / Financing Good News --- p.66 / Downward Revisions In Earnings Forecasts --- p.67 / Conclusions --- p.68 / Concluding Words --- p.69 / Chapter IV. --- "SUMMARY, CONCLUSIONS AND RECOMMENDATIONS" --- p.70 / APPENDICES --- p.73 / BIBLIOGRAPHY --- p.95

There are three lines of poverty in South Africa, the first line is that of people living at less than R271 per month and constitute one third of the population (about 33 percent), second being those people living at less than R422 per month (50 percent of the population) and the last group being people living at less than R1 230 per month, constituting 79.1 percent of the population (Oosthuizen. 2008: 7 – 9). The poorest provinces are Eastern Cape and Limpopo with a poverty rate of 68.3 percent and 60.7 percent respectively, Western Cape and Gauteng the poverty rates are 20 percent and 28.8 percent respectively (United Nations Development Programme. 2003) To respond to the poverty challenges the government has come up with poverty alleviation strategies which were later translated into anti-poverty programmes. The Anti-poverty programmes undertaken by Government since 1994 can be grouped into various categories of public expenditure such as (Friedman and Bhengu, 2008:14), Social assistance and grants, Employment generating programmes, enterprise development and income support, Basic household security, Social services, Disaster relief and Employment related social insurance. This study assessed Mogabane Community Project to find out reasons why the project did not reach its objective of poverty reduction in the community. Qualitative Research methodology was used to arrive at the findings.