Concluding thoughts In conclusion, I would like to mention that the role of financial markets in the process of a country’s economic development needs no emphasis. At the same time, as the recent crisis has shown, financial markets can be the epicenter of crises that derail the growth process itself and unleash great misery.
But as such innovative projects are often risky, governments and multilateral development banks may have to take on part of this risk via equity shares to trigger the necessary private investment. Such blended finance would give a boost to the green transition in emerging, developing as well as developed economies.