Local Projects Local, government and public authority projects in the UAE are generally self-financed. However, it is possible that projects which have traditionally been entirely government-financed may in the future be privately financed or funded through a public private finance initiative. International projects The size of the project will inevitably affect the way it is financed. Smaller projects in the UAE tend to be financed by lenders on a corporate or full recourse basis, while larger projects will be financed on a project finance basis. Generally this will involve the raising of finance on a limited recourse basis for the purposes of developing a large capital intensive project, where the borrower is a SPV. Repayment will depend on the terms of the financing agreement. Typically these large-scale projects will be based on the Loan Market Association standard finance documents. In the UAE, some local banks are taking an active role in the financing of landmark projects. In some cases, Islamic finance structures have been incorporated, which provide another alternative to conventional financing.