ABSTRACT
The number and volume of non-recourse project finance deals in emerging markets as reported by the Thomson Reuters Project Finance International (PFI) database, were at an all-time high in 2010. The momentum in emerging markets project finance (EMPF) has propelled the State Bank of India. The chapter first analyses trends in EMPF by breaking down the data in further by country and sector. It second looks at the general characteristics of project finance in emerging markets and how these differ from project finance in developed countries. Thirdly it looks at what makes project finance particularly suitable to emerging markets. Finally the chapter concludes with some thoughts about the future of project finance in emerging countries. Project finance is here to stay as one of the most significant sources of long-dated financing in emerging markets.
