Programmazione e controllo di un’operazione di Project financing

Abstract

The project financing is a financial planning of structural works which has established itself in Anglo-Saxon markets and is now developing in the Italian economic reality, where it finds utilization for intensive capital projects not available from banking system. Its peculiar feature is to assess the capacity of repayment of the debt incurred to realize a specific economic initiative mainly on the estimation of its income, translated into cash flows. The project financing is not realized by established businesses, equipped with an economic and patrimonial balance sheet consolidated over time, but by special societies of project economically and legally separated from the promoters of the same.