This document aims to determine the advantages of project finance or structu- red projects for developing countries. In this sense, it analyses how this modality allows to share and to detail some possible risks of a project between an interested country and the parties involved, identifying the different guarantees, the partici- pation of insurance companies and the way they negotiate cash flows as contracts back up. The literature review demonstrates the need to create partnerships or corporations with the specific purpose of looking after infrastructure projects to reach agreements between the different parties involved in financing, such as the State and the sponsor’s shareholders, as well as in the definition of the obligations and rights of each one.