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Published in:
2015 | OriginalPaper | Chapter
Sustainable highway infrastructure funding in Developing Countries: A case study of Jamaica
Authors : Prof. Dr. Nigel Smith, PhD, CEng, FICE, FCIHT, MAPM, Dr. Tesfaye Mulu, MBA, PhD
Published in: Aspekte der Baubetriebslehre in Forschung und Praxis
Publisher: Springer Fachmedien Wiesbaden
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Investing in a country’s transport infrastructure can contribute to economic growth, improve human welfare and has considerable potential for directly reducing poverty. Yet current investment, particularly in developing countries, is frequently insufficient to fund infrastructure needs. Public financing derived from taxation has often proved inadequate forcing developing countries to borrow funds from multilateral and bilateral development agencies to finance infrastructure development and maintenance. Consequently most developing countries carry a burden of debt payment accounting for a large proportion of their annual expenditure.