Financial problems — a banker's view

The oil crisis of the early 1970Ts has led to a chain of

events culminating in todayfs credit crisis. The implications

for projects must be clear to everyone attending this

conference. When there is no finance there can be no

projects. It is therefore necessary to find alternative

sources of credit and finance.

Banks, government agencies and financial institutions have

been endeavouring to find these alternatives and their efforts

are bearing some fruit. The main source of new credit is the

project itself. If, for example, there is a reserve of

minerals which has a value exceeding the cost of extraction