ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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More Symbol than Substance

   More Symbol than Substance With the cabinet clearing the incorporation of a 100 per cent state-owned special purpose vehicle (SPV) to fund infrastructure projects, the question to ask is whether this new arrangement will end the paucity of long-term funds for this sector. It is clear that there is no dearth of loanable funds in the banking system, but with the decline of development finance institutions (DFIs) since the mid to late 1990s, project loans of longer tenures have been difficult to come by. Though commercial banks have expanded their lending to the sector

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