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The advantages of structured financing for sub-national authorities (Английский)

In principle, sub-national authorities have several financing models to choose from for their infra-structure projects. A common model involves the authority taking a long term loan from a bank. Since most commercial banks do not lend for the length of time appropriate for infrastructure projects (15 years or more), this type of loan is most likely to come from a development bank or national government agency. Another model involves the authority...
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