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Vietnam - Capital subsidies implicit in concessional finance : how to make them more transparent and better targeted (anglais)

Multilateral Development Banks (MDBs) finance a significant share of developing country water sector investments in Vietnam. Much of this financing is concessional and often on-lent by national governments, at similar concessional terms, to water utilities. This concessionality carries an implicit subsidy, i.e., the difference between MDB financing terms and commercial financing terms priced more in line with the underlying credit risks. As such concessional...
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