We examine the factors that influence public firms' choice between project financing and corporate financing. Using a sample of 15,191 syndicated deals closed between 2000 and 2016, we find that economies of scale, agency costs of debt, and information asymmetry arguments affect the choice of...

Uganda has undertaken ambitious investments in public infrastructure over the past decade in order to grow its economy over the medium term. These investments require large-scale and long-term financing which is in short supply. A study conducted by the African Development Bank in 2013...