Even though we may think thatproject finance is a new and revolutionary way to ensure the procurement of infrastructure based services, project finance is actually just a more sophisticated way of finance that has been used for more than 500 years. The discovery of America was financed through the means of private equity using some of the techniques that we currently use. 1 Even more what we know now as the French concession model emerged in the mid XVII century. So project finance is not a newly invented financing technique. Modern financial knowledge and the invention of new financial instruments have only refined it and transform it into what we now know.
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