Traced back to 1291 A.D.
•
English Crown funded exploration of the
Devon silver mines
•
Deal with Florentine merchant bank
Frescobaldi.
•
Bankers made up a mining concession,
equal to the amount of silver they could
mine in a year.
•
Another type of project finance was
utilised
to finance ships’ voyages till the 17th
century. On return the cargo would be liquidated and the returns of the voyage divided
between investors.
•
In the 1970’s project finance became popular for oil drilling and soon was associated
with all types of infrastructure