Project Finance NewsWire

July 2000

IN THIS ISSUE

London City Airport Transaction

The London City Airport financing last fall was the first use of “whole business” securitization to finance a project in the United Kingdom. The transaction structure is shown on the next page...


IN OTHER NEWS

India

India increased the effective tax rate on earnings from Indian projects from 45.27% to 52.03%.

Bulgaria

Bulgaria unilaterally revoked its tax treaty with Cyprus after discovering that most investment into Bulgaria was being run through Cyprus to avoid withholding taxes.

The Czech Republic

The Czech Republic is offering 10-year tax holidays for investments in new projects and five years of partial corporate tax relief for expansions of existing facilities.