Since 2002, the amount of commercial bank debt loaned to finance infrastructure has increased steadily year on year, even through the global economic crisis of 2007-08. During the same period, debt in the capital markets grew initially before reaching a plateau from 2003 to 2006, followed by a decline. These trends are illustrated in Figure 1, which shows the total amount of annual debt arranged for infrastructure projects across the globe.1 In this chapter we discuss the long-term trends in capital markets and how to unlock their potential for infrastructure finance.