Non-recourse financing or forgivable loans for developing country humanitarian projects |
It is now possible for developing countries to obtain project loans on a forgivable basis for humanitarian projects |
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| Contact Information |
Edmund Kwaw
Oshawa
Ontario -
Canada
Phone: (905) 233-4611
Email: info@newstarprojectconsultants.com
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Market Press Release – August 11, 2010 1:23 am – TORONTO, ONTARIO, AUGUST 10, 2010 – The most pressing humanitarian needs in developing countries is the alleviation of poverty, and the improvement in standards of living. For a significant period of time, it has been difficult for developing countries to achieve these goals because undertaking sustainable development projects to facilitate poverty alleviation initiatives, involved obtaining conventional loans to finance such sustainable projects. Such conventional financing always came with onerous repayment terms which plunged the borrowing countries into further predictable cycles of debt and poverty.
In order to repay these loans, developing country borrowers have had to make cuts to essential services like health. For instance available statistics shows that countries in the malarial zone need to spend approximately US$35 or US$45 per person a year to meet the essential health need of their populations. However, most of these countries can only afford to spend US$10 per person because the US$30 balance per person per year goes to service debt. For a country with a population of 20 million people, this is approximately half a billion US dollars that could have been used for poverty alleviation initiatives, that instead goes to service the country’s debts.
The time has come to do away with conventional financing for developing country humanitarian projects, and all humanitarian projects for that matter.
New Star Project Consultants Inc., is an Ontario consultancy that sources innovative financing for developing country humanitarian projects, as well as other humanitarian projects. A new financing facility that is available through the company, is non-recourse financing for humanitarian projects, also known as as a forgivable loan. It is so called because after the completion of the project the loan is totally forgiven and the borrowing country obtains the project free and clear. For more details, contact New Star Project Consultants Inc.
Based in Toronto, Edmund Kwaw, is the CEO of New Star Project Consultants Inc. He is the author of several noteworthy books on financing, including The Law of Corporate Finance in Canada; Grey Areas in Eurocurrency Deposits and Placements; The Law & Practice of Offshore Banking and Finance;
Contact info@newstarprojectconsultants.com
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For more information, visit: http://www.newstarprojectconsultants.com
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| Related Tags: Developing country financing, forgivable loan, humanitarian projects, non recourse financing |
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