Financing sustainable transport infrastructure in emerging markets and developing economies

José C. Carbajo

Chapter 17 in Handbook on Transport Pricing and Financing, 2023, pp 330-347 from Edward Elgar Publishing

Abstract: The World Bank Group finances substantial amounts of transport infrastructure and services in emerging markets and developing economies (EMDEs). It supports public and private transport infrastructure projects using various financing instruments, including loans, guarantees, equity investments, and political risk insurance. This chapter provides an overview of the main financial instruments used by the WBG to support transport infrastructure and services, describing their basic design features and providing real-life project examples. Based on independent evaluation reports, the chapter uses the experience of urban transport to illustrate the type of development outcomes that can be achieved by financing transport infrastructure and services. It also describes the challenges associated with decarbonizing transport in EMDEs and the financing instruments available to mobilize private capital for climate finance, including green bonds, climate funds, and blended finance.

Keywords: Economics and Finance; Environment; Geography; Politics and Public Policy Urban and Regional Studies (search for similar items in EconPapers)
Date: 2023
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