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© 2016 New York University/Stern School of Business

This work is licensed under a Creative Commons Attribution 4.0 International license (CC BY 4.0). This license allows you to share, copy, distribute and transmit the text; to adapt the text and to make commercial use of the text providing attribution is made to the authors (but not in any way that suggests that they endorses you or your use of the work). Attribution should include the following information:

Ingo Walter (ed.), The Infrastructure Finance Challenge. Cambridge, UK: Open Book Publishers, 2016.

In order to access detailed and updated information on the license, please visit

Further details about CC BY licenses are available at

All external links were active on 3/11/2016 unless otherwise stated and have been archived via the Internet Archive Wayback Machine at

Every effort has been made to identify and contact copyright holders and any omission or error will be corrected if notification is made to the publisher.

Updated digital material and resources associated with this volume are available at

This is the third volume of our Open Reports Series.

ISSN (print): 2399-6668

ISSN (digital): 2399-6676

ISBN Paperback: 978-1-78374-293-6

ISBN Hardback: 978-1-78374-294-3

ISBN Digital (PDF): 978-1-78374-295-0

ISBN Digital ebook (epub): 978-1-78374-296-7

ISBN Digital ebook (mobi): 978-1-78374-297-4

DOI: 10.11647/OBP.0106

Cover image: Chi King, ‘Glass and Steel (HONG KONG/ARCHITECTURE) IX’ (2006), CC BY 2.0. Image from Wikimedia,

All paper used by Open Book Publishers is SFI (Sustainable Forestry Initiative), PEFC (Programme for the Endorsement of Forest Certification Schemes) and Forest Stewardship Council(r)(FSC(r) certified.

Printed in the United Kingdom, United States and Australia by Lightning Source for Open Book Publishers (Cambridge, UK).