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Western EuropeMay 1 2005

Project finance saves the day

Investment banks that are starved of corporate business have looked to project finance as a source of growth but middle-market corporate lending is looking up and they are getting ready to grab their share, reports Peter Wise.
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Between 1991 and 2000, Portugal invested more in infrastructure and other construction projects than any other EU country. As a result, the country now has more motorway in terms of distance per inhabitant than any of its European peers.

As economic growth begins to pick up after a sharp downturn, the new Socialist government envisages a further wave of big infrastructure projects. Plans include a high-speed train network, a second Lisbon airport, further motorway expansion and extensions to the Lisbon underground system.

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