Infrastructure Financing and Bond Markets
5-6 December 2013, Washington DC, USA
Discussions at the 14th IMF-OECD-World Bank Global Bond Market Forum focused on how capital markets can help enhance infrastructure financing. Infrastructure needs are large in advanced and emerging countries and even more so in low income countries. There is therefore a need to attract a stable investor base to fund infrastructure projects.
Discussions focused on the following questions and issues:
- What is the composition of the investor base to fund infrastructure projects (domestic versus external, financial versus non-financial, equity versus debt)?
- What is the role for banks (syndication) and investment banks and other financial intermediaries in infrastructure financing?
- What role can and should local currency bond markets (LCMBs) play in financing infrastructure?
- How should sovereign, subnational and non-government bonds contribute and interat with one another to have the greatest impact?
- What instruments could help improve the use of bond financing and what actions are needed to make them more attractive for market participants?
- Contingent liabilities in the context of infrastructure projects and financing.
This event was attended by senior level officials from debt management offices, ministries of finance, central banks, and capital market regulators from OECD countries and emerging markets, and private sector representatives.
Sovereign Borrowing Outlook