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PIARC (World Road Association), founded in 1909 and comprising 125 member governments from all over the world, is the global forum for exchange of knowledge and experience on roads, road transport policies and practices. With consultative status to the Economic and Social Council of the United Nations, the Association is contributing to a stable and sustainable global development of the road and transport sector.

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Term of the Road Dictionary

financing

Language : PIARC Road Dictionary / English
Theme : Financial and Legal Tools Finance and Procurement Economics and Finance
Definition : Provision of the capital to cover the cost of an investment project. Notes: 1. Capital is sourced from a variety of mechanisms: Government budget allocation, grant by aid donors, equity provided by shareholders, or loan provided by investors. 2. Financing is provided in the expectation that the equity or debt will be repaid, along with a return on capital commensurate with the risks involved, over a specific period through payments by the users (taxes, tolls) and/or by the public sector. 3. In the case of a road project procured as a PPP, financing is totally or partly provided by the private partners involved and repaid with the return on investment.