Infrastructure for Integrating South and Southeast Asia
ADBI series on Asian Economic Integration and Cooperation
Edited by Michael G. Plummer, Peter J. Morgan and Ganeshan Wignaraja
Chapter 4: Infrastructure finance and financial sector development for cross-border connectivity
Investment in infrastructure for increasing trade and connectivity in South Asia and South East Asia has been impacted by reduction in commercial bank participation in project financing, which has made the role of multilateral financial institutions and export credit agencies significant. The financing model needs to change to a more sustainable local market and local currency financing by harnessing the domestic savings for financing its infrastructure and connectivity projects. This chapter analyzes the means and constraints in funding cross-border connectivity projects. Using the most recent data from sources including the World Bank, the ADB and other financing and research institutions, barriers to financing cross-border projects have been explored and analyzed with the help of case studies. The research brings to the fore the potential benefits of regional funding platforms and role of multilaterals in resolving such barriers.
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