Financing small-scale infrastructure investments in developing countries
نویسنده
چکیده
In most developing countries a shortage of long-term, local-currency fi nancing for small-scale infrastructure projects impedes local economic development. Inadequate fi scal transfers, little own source revenue and low creditworthiness make it diffi cult for local governments to fully fund projects on their own. Th is paper proposes the use of project fi nance as a means to attract fi nancing from domestic banks and institutional investors. Donors can play a catalytic role by providing technical assistance to develop projects and credit enhancement to attract commercial fi nancing.
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