Controls over project cash flows and bank accounts protect project interests. The loan structure included strict controls over the project bank accounts. Bank accounts specifically dedicated to the CPTL project needed to be opened and maintained both outside the host country (the offshore account) and within it (the onshore account). All amounts payable to the project are required to be paid into the offshore account and may only be withdrawn according to the payment priorities and amount limits specified in the loan document. The importance of achieving these protections for the project and the lenders’ interests is noted as a critical point of transaction development.
(Cambodia) Power Transmission Lines Co., Ltd., Power Transmission Project