There are substantial benefits to be had if project sponsors can finance the project debt in the same currency as the revenues. However, in order to do this there has to be an institutional framework made up of pension funds, insurance companies, and other institutional investors with longer-term investment objectives; and a legal framework allowing investors to purchase such securities. Unfortunately, many countries do not have well developed financial markets to provide long-term financing or the risk mitigating financial instruments, as described in chapter 4, that are required finance infrastructure projects.