This e-learning course focuses on encouraging private sector financing in the railway sector.

By the end of the course users will be able to:

• Understand the difference between funding & financing.
• Appreciate the options for closing the funding gap in railway sector.
• Have a basic familiarity with the types of financing (sovereign, corporate and project) and the financing instruments typically used by railways.
• Recognize the role of risk in private sector financing & approaches to mitigate it.

Week 1: Introduction to Funding and Financing

The first module will introduce the concepts of funding and financing and how they relate to one another. It will also introduce the concept of a funding gap.

Week 2: Financial Instruments

The second module will explain the differences between sovereign, corporate and PPP financing and introduce typical financing instruments including loans, stocks, bonds and leasing.

Week 3: Risk and Risk Mitigation

The third module will discuss risk and approaches to reduce risk to make investment in railways more attractive to the private sector.