Project Development Cycle Process Project Development Cycle Process
Managing infrastructure and major projects is a multifaceted task. Throughout the feasibility, procurement, implementation and operation phases of a project there are numerous transaction decisions and issues that need to be considered. Istnvest project finance services are comprised of two sections:

1 - Project Development
2 - Project Financing
Project Development and Financing
During identification stage, both Istnvest and the borrowers are involved in analyzing development strategies for the host country and in identifying projects that support those strategies. Ideas for projects often emerge from these strategies as well as Istnvest's economic and sector research, borrower's /project sponsor’s feasibility studies, and prior projects. Projects should be financially, economically, socially, and environmentally sound and most importantly bankable.

The Borrower is responsible for project preparation, which could last 1 to 2 years. Istnvest often provides technical and financial assistance where necessary. During preparation, Istnvest appointed project team has to determine all the technical, economic and financial conditions required for the project to succeed. The ad-hoc team must also compare possible alternative methods for achieving the project's objectives.

Istnvest is solely responsible for project appraisal, which is usually conducted by Istnvest staff, sometimes in cooperation with consultants. The appraisal team reviews all the work conducted during identification
and preparation. The team prepares a Project Appraisal Document which is carefully reviewed and redrafted as necessary for submission to Istnvest management.

During negotiations, Istnvest and Borrower endeavor to agree on the measures required to assure project success. The Borrower reviews final documents and both sides come to agreement on the terms and conditions of the loan/investment.