The overall amount of commercial debt arranged for infrastructure transactions has proved remarkably resilient through the global economic crisis. However, the cost of that debt has increased and the lending terms tightened. In addition, the provision of certain types of debt-such as long-term loans and bonds issued through the capital markets-has declined. We have explored two ways these markets might be revived: 1) re-engineering of the project financial structure or 2) introducing new contractual approaches that make the risk-reward equation more attractive. However, neither approach is a silver bullet that will solve market problems. More work still needs to be done at a national or regional level to ensure long-term financing for infrastructure.