credit enhanced infrastructure bonds in emerging markets book by venu prasath
TRANSCRIPT
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Credit Enhanced
Infrastructure Bonds
In Emerging Markets
By
Venu Prasath T
M Sc International Construction Management
University Of Leeds
United Kingdom
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I dedicate this work to my Family, Teachers, Friends and God for their dedicated
participation for success in my life.
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+,-./012!3242.5
I would like to thank my supervisor, Prof. Nigel Smith, for the patient guidance,
encouragement and advice he has provided throughout this book. I have been
extremely lucky to have a guide who cared so much about my work, and who
responded to my questions and queries so promptly.
I would also like to thank my family and friends for their moral support throughout
the year during my MSc studies.
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In this research the author recommends increased use of bonds as a financing
instrument in emerging markets. It is common in the current market condition where a
borrower from emerging markets had to go into complex process for gaining
infrastructure investments compared to a borrower from a developed country all due
to credit risk involved. In this research, the author developed an improved credit
enhancement process that might help borrowers in emerging markets increase
investments in a less complex way than the previous condition. The potential of bonds
as infrastructure financing upgrading it with credit enhancement feature to fit in and
reduce the funding gap and increase the infrastructure investments in emerging
markets. Making it a significant tool for mitigating the credit risk involved in
emerging markets.
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