Asia has massive infrastructure funding needs but, in spite of this, the region's project bond market has never really taken off - for a myriad of reasons ranging from a lack of investor familiarity to the dearth of suitable infrastructure projects.
However, the Credit Guarantee Investment Facility CGIF, a multilateral facility affiliated with the Asian Development Bank, could be about to guarantee its first project bond, its chief executive Kiyoshi Nishimura told participants at law firm Latham Watkins’ project bonds seminar held in Hong Kong on Tuesday.
“We are currently working on our first guaranteed project bond,” said Nishimura. “CGIF will provide the guarantee so that...
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