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Global investment in infrastructure sank 38% to $99B last year as governments cut spending and...

Global investment in infrastructure sank 38% to $99B last year as governments cut spending and banks reduced lending in order to meet Basel III capital requirements. Social infrastructure projects, which include schools and hospitals, suffered in particular, with Aviva (AV) becoming the leading lender in that market - in a quest for higher returns, insurers and pension funds have been replacing banks as financiers.
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