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|z 9781484386200
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|a 1018-5941
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|a Gurara, Daniel.
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|a Borrowing Costs and The Role of Multilateral Development Banks :
|b Evidence from Cross-Border Syndicated Bank Lending /
|c Daniel Gurara, Andrea Presbitero, Miguel Sarmiento.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2018.
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|a 1 online resource (44 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a Cross-border bank lending is a growing source of external finance in developing countries and could play a key role for infrastructure financing. This paper looks at the role of multilateral development banks (MDBs) on the terms of syndicated loan deals, focusing on loan pricing. The results show that MDBs' participation is associated with higher borrowing costs and longer maturities---signaling a greater willingness to finance high risk projects which may not be financed by the private sector---but it is also associated with lower spreads for riskier borrowers. Overall, our findings suggest that MDBs could crowd in private investment in developing countries through risk mitigation.
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|a Mode of access: Internet
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|a Presbitero, Andrea.
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|a Sarmiento, Miguel.
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|a IMF Working Papers; Working Paper ;
|v No. 2018/263
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2018/263/001.2018.issue-263-en.xml
|z IMF e-Library
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