Another Lost Decade? Effects of the Financial Crisis on Project Finance for Infrastructure

Rapid growth in project finance, driven by huge increases in liquidity, helped fuel the gains in private participation in infrastructure (PPI) in developing countries in the past decade. But when the financial crisis hit, the excess liquidity began to dry up as lenders backed away from practices that had helped generate it. The effects are already apparent in greater delays in financial closures, more cancellations, and higher financing costs for PPI projects. If full recovery of the project finance market takes much longer than expected, some of the measures that are now being adopted to avoid shutting down project pipelines might have unintended and very negative consequences.

Bibliographic Details

Main Authors:	Leigland, James, Russell, Henry
Format:	Brief biblioteca
Language:	English
Published:	World Bank, Washington, DC 2009-06
Subjects:	AFFORDABLE INTEREST RATES, ASSET-BACKED SECURITIES, ASSETS, BALANCE SHEET, BALANCE SHEETS, BANK CREDIT, BANKING NETWORKS, BANKING PRACTICES, BANKING REGULATIONS, BOND, BOND ISSUANCE, BOND ISSUE, BOND MARKETS, BONDS, BORROWER, BORROWING, CAPITAL MARKETS, CASH FLOWS, COMMERCIAL DEBT, COMMERCIAL FINANCE, CONCESSION, CONTINGENT LIABILITIES, CREDIBILITY, CREDIT CRUNCH, CREDIT LINES, CREDIT RATING, CREDIT RATINGS, CREDIT RISK, DEBT, DEBTS, DEVELOPING COUNTRIES, DUE DILIGENCE, ECONOMICS, EMERGING MARKETS, EXCESS LIQUIDITY, FINANCE INITIATIVE, FINANCIAL BURDENS, FINANCIAL CRISIS, FINANCING COSTS, GLOBAL BANKING, GOVERNMENT BUDGETS, HOLDING, INFRASTRUCTURE FINANCE, INFRASTRUCTURE INVESTMENT, INSURANCE, INTEREST RATES, INTERNATIONAL BANKS, INTERNATIONAL CREDIT, INTERNATIONAL CREDIT RATINGS, INVESTMENT FUNDS, KINDS OF ASSET, LENDER, LENDERS, LENDING DECISIONS, LIQUIDITY, LOAN, LOAN SYNDICATION, LOCAL BANKS, LOCAL INFRASTRUCTURE, LONG-TERM INVESTORS, MARKET LEVEL, MERCHANT, MORTGAGE, NEGOTIATIONS, PLEDGES, POTENTIAL LENDERS, PRIVATE BANKS, PRIVATE FINANCE, PRIVATE INFRASTRUCTURE, PRIVATE INVESTMENT, PRIVATIZATION, PUBLIC FINANCING, PUBLIC-PRIVATE PARTNERSHIP, PUBLIC-PRIVATE PARTNERSHIPS, RESERVE, RETURN, RISK SHARING, SECONDARY MARKET, SECURITIES, SECURITIZATION, TECHNICAL ASSISTANCE, TELECOMMUNICATIONS, TRANSPORT, URBAN DEVELOPMENT,
Online Access:	http://documents.worldbank.org/curated/en/2009/06/11401951/another-lost-decade-effects-financial-crisis-project-finance-infrastructure http://hdl.handle.net/10986/10541
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