Samir Jašaragić, mag.oec.

The Project Finance

with Bank Loans, Bonds and Shares
SUMMARY

„The Project Finance with Bank Loans, Bonds and Shares“ is the title of the final master's
thesis in the field of banking management, with research emphasis on external sources of the
project funding, i.e. bank loans, bonds and shares, in other words optimization of its own and
external sources, as well as the structure, scope, withdrawal dynamics and prices of the
external fund sources, needed for certain project funding due to lack of its own accumulation.
The following can be labeled as a research problem: inferior results achieved in the
implementation of projects with unfavorable external sources of funding contrary to those
funded from favorable sources, resulting in a net profit increase depending on the choice of
sources of funding, with the same efficiency of doing business, i.e. better effects of funding
and greater financial leverage achievement, as well as the successfulness of the overall project
implementation.
Chapters of which this thesis is composed are given in order of gradual introduction to the
project finance issue and then of the acceptability of funding sources in order to achieve their
logical connection, which resulted in a comparison of the advantages and disadvantages of
those funding sources regarding the concrete example. The conditions investor must accept in
selecting one or more sources of funding and their sublimation in the particular project are
suggested in the conclusion. This particularly due to the fact that a project of the same
performance will have worse results in execution if it is funded from unfavorable sources.

Keywords: project finance, banking management, external funding sources, long-term bank
loans for business, bonds, shares, project profitability and liquidity, project financial aspects,
economic development