PROJECT FINANCE THE ROLE OF EXPORT CREDIT AGENCIES IN PROJECT FINANCE

The functions of Export Credit Agencies have an important place in the economies of countries in terms of contribution to economic growth. The developed countries follow various policies and constitute institutions for the development and support of export and export financing. Every country develops its own export-financing mechanism, according to its own economic situation within the existing legal framework. However, the privatization and economic deregulation actions in the approaches to fund great projects show that a significant portion of the financing burden is assumed by the private sector. For the private sector in providing the necessary funding for these investments, "project financing" emerges as an important method. The role of Export Credit Agencies in project finance, which is defined as a sort of financing to finance newly developed projects which involves limited or non-recourse to the special purpose vehicle which is set up for such project, increased significantly in recent years