 Project finance is the funding (financing) of long-

term infrastructure, industrial projects, and public

services using a non-recourse or limited recourse
financial structure. The debt and equity used
to finance the project are paid back from the cash flow
generated by the project.
 Fungibility is the ability of a good or asset to be
interchanged with other individual goods or assets
of the same type. Fungible assets simplify the
exchange and trade processes, as fungibility
implies equal value between the assets. E.g., Cash
and Gold.
