Glossary · Debt instruments
Project finance
Non-recourse debt secured on a project's own cash flows. Common in infrastructure and energy.
Why it matters
It ring-fences risk to the project and lets sponsors scale capital efficiency.
Related
- Recourse / non-recourse
Whether a lender can pursue the borrower's other assets if the loan defaults (recourse) or only the financed asset (non-recourse).
- ECA (Export Credit Agency)
A government-backed financier supporting cross-border deals by guaranteeing or lending alongside commercial banks.
- DFI (Development Finance Institution)
A public or quasi-public lender — e.g. EBRD, IFC — funding development-aligned projects with concessional or near-commercial terms.
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