Such projects can take years until a signed contract and an effective loan agreement stage are reached, sometimes because of internal political or local controversy as to its real or alleged social, economic or environmental consequences. Such projects also incur more pre-contract costs than ordinary export contracts, not only because of their length but also through feasibility studies and appraisals, legal and technical costs and necessary approvals by a number of local authorities. In many of these projects, finance is the key question, or rather how to arrange and structure the necessary collateral for such finance.

Give three examples of such projects, one from Turkey and one from the rest of the world. How such a project relates to international trade financing which is the topic of this course? Do you think a private commercial bank would be eager to provide finance for such a project?