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The Future of National Development Banks$
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Stephany Griffith-Jones and José Antonio Ocampo

Print publication date: 2018

Print ISBN-13: 9780198827948

Published to Oxford Scholarship Online: November 2018

DOI: 10.1093/oso/9780198827948.001.0001

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Financial Sustainability and Infrastructure Finance

Financial Sustainability and Infrastructure Finance

The Role of Development Banks

Chapter:
(p.302) 12 Financial Sustainability and Infrastructure Finance
Source:
The Future of National Development Banks
Author(s):

Felipe Carvalho de Rezende

Publisher:
Oxford University Press
DOI:10.1093/oso/9780198827948.003.0012

Among the lessons that can be drawn from the global financial crisis is that private financial institutions have failed to promote the capital development of the affected economies, and to dampen financial fragility. This chapter analyses the macroeconomic role that development banks can play in this context, not only providing long-term funding necessary to promote economic development, but also fostering financial stability. The chapter discusses, in particular, the need for public financial institutions to provide support for infrastructure and sustainable development projects. It concludes that development banks play a strategic role by funding infrastructure projects in particular, and outlines the lessons for enhancing their role as catalysts for mitigating risks associated with such projects.

Keywords:   national development banks, infrastructure finance, long-term funding, sustainable development, global financial crisis

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