The Heavy Lift & Project Forwarding International magazine is a bi-monthly news source for professionals in international heavy lift movements and project cargo activities. The May/June 2009 issue features an interview titled ’Time To Stand Up and Be Counted,’ where award-winning editor Emma Murray asked seven financial experts to explain the current economic situation and forecast trends in the field of project financing, particularly how the heavy lift industry will be affected.

Milena Stoyanova, Head of Financial Services at SGS; Coimbatore Krishnarao Prahalad, Management Consultant; Geoff Haley, Chairman of the International Project Finance Association (IPFA); Phill Fletcher, Partner in Project Finance at Milbank, Tweed, Headley & McCloy LLP; Markku Pekonen, Managing Director at Emerging Markets Advisors Ltd. (EGMA); Norman Anderson, Chief Executive at Capital Growth in Long Term Assets (CG/LA); and Ada Karina Izaguirra, Infrastructure Specialist at World Bank, shared their views on the new financial landscape.

The opinions expressed may have differed in details but most of the experts agreed that the project financing industry is facing a new world order. The heavy lift and project forwarding industry will need to stand up and take responsibility for this new world order.

Not only have the terms and conditions of credit become stricter during the last 12 months; the debt-to-equity rates have also become as high as 50 percent, and both are a consequence of the increasing risk perception of creditors. However, despite some projects being cancelled or delayed, funds are still available to finance stable projects of a reasonable size. Instead of traditional lending from commercial banks, finances are provided by local banks, development banks, equity funds and even EPCs.

SGS Project Finance Services understands the investors’ concerns over project delays and proper project execution, especially in the current economic situation. We provide technical advice and information at all stages of the project finance lifecycle.

Our expertise in project financing is based on years of experience in providing risk management solutions to customers worldwide.


Milena Stoyanova
Head of Financial Services

1 Place des Alpes
1211 Geneva
t: +41 22 739 9111
f: +41 22 739 9848

About SGS

The SGS Group is the global leader and innovator in inspection, verification, testing and certification services. Founded in 1878, SGS is recognized as the global benchmark in quality and integrity. With more than 55,000 employees, SGS operates a network of over 1,000 offices and laboratories around the world.