Across the globe, governments are increasingly turning to the private sector to fund critical infrastructure developments. Whether in the energy, environmental, transport or social infrastructure sectors, the private sector is funding the infrastructure assets which provide core public services. At a time when governments face financial constraints due to high levels of borrowing and taxation — and should be increasingly turning to the private sector to meet the infrastructure funding gap — the financial markets are in turmoil due to the credit crunch.
What is the credit crunch, how has it affected the infrastructure markets, and what is the outlook for the future? One year on from the beginning of the credit crunch, this opinion piece explores some of the issues surrounding the infrastructure marketplace and considers likely outcomes of the credit crunch on the future of the market.
Issues examined include:
- Background on the global infrastructure market
- The credit crunch
- Evolution of the infrastructure finance markets
- Impact of the crunch on infrastructure funding
- Non-economic/economic infrastructure
- The outlook for infrastructure financing
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