Sheppard, Robertvon Klaudy, StephanKumar, Geeta2012-08-132012-08-132006-09https://hdl.handle.net/10986/10724Sub-Saharan Africa receives only a small share of private investment in infrastructure. One reason for this is its difficulties in getting project finance - difficulties that stem from the low creditworthiness of most African countries, the limits of local financial markets, and the risk profiles typical of infrastructure projects. Whether the region can attract more private foreign currency funding for infrastructure will depend in part on the ability to reduce foreign exchange risks. But in some countries local currency sources, especially local capital markets, also offer good potential.CC BY 3.0 IGOAFFORDABLE PRICEBALANCE SHEETSBANKSBOND FINANCINGBOND ISSUESBONDSCAPITAL MARKETSCOMMERCIAL BANKSCONCESSIONCONCESSIONSCONTRACTUAL SAVINGSCORPORATIONCREDIT RATINGCREDIT RATINGSCREDITWORTHINESSDEBTDEBT RATINGSECONOMIC DEVELOPMENTECONOMICSELECTRICITY DISTRIBUTIONEQUITY INVESTORSEXCHANGE RATE VOLATILITYEXCHANGE RATESFINANCE COMPANYFINANCIAL CRISESFINANCIAL INSTITUTIONFINANCIAL INSTITUTIONSFINANCIAL MARKETSFINANCIAL SECTOR REFORMFINANCING OF INFRASTRUCTURE PROJECTSFOREIGN CURRENCY DEBTFOREIGN EXCHANGEFOREIGN FINANCINGFOREIGN LENDERSGOVERNMENT SECURITIESINFRASTRUCTURE ECONOMICSINSURANCEINSURANCE COMPANIESINTEREST RATE SWAPSINTERNATIONAL FINANCEINTERNATIONAL MARKETSINVESTMENT FUNDSINVESTMENT IN INFRASTRUCTURE PROJECTSLEASE CONTRACTSLENDERSLOCAL CAPITAL MARKETSNONGOVERNMENTAL ORGANIZATIONSPENSION FUNDSPORTSPOWERPOWER DISTRIBUTIONPRIVATE CAPITALPRIVATE FINANCEPRIVATE INFRASTRUCTUREPRIVATE INFRASTRUCTURE INVESTMENTPRIVATE INVESTMENTPRIVATE INVESTMENT IN INFRASTRUCTUREPRIVATE INVESTORSPRIVATIZATIONPROJECT SPONSORSPUBLIC-PRIVATE PARTNERSHIPSRATING AGENCIESREGULATORY SYSTEMSRISK MITIGATIONROADSSAVINGSSECURITIESSPONSORSSUB-SAHARAN AFRICATARIFF ADJUSTMENTSTARIFF REGULATIONTECHNICAL ASSISTANCETERM FINANCETOLLTOLL ROADSWorld Bank10.1596/10724