Building Bridges: Borrowing for Public Investment
Posted by Taz Chaponda[1]
Building megaprojects often requires such a vast capital investment that the country may have to borrow from development finance institutions, export credit agencies or other sources. For large countries like China and the USA, there are likely to be adequate sources of domestic financing. But for low-income and emerging market economies, foreign sources of financing will be required. If so, should countries incur further debt for new infrastructure? And how should they weigh up competing calls to finance it. Cheap loans from large Chinese banks have so far attracted many countries.
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