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 tha...

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Bibliographische Detailangaben
Hauptverfasser:	Leigland, James, Russell, Henry
Format:	Buch
Sprache:	eng
Schlagworte:	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
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Beschreibung
Zusammenfassung:	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.