Usually debt finance makes up the majority share of investment needs in projects, and can include commercial loans, bridge finance, bonds and other debt instruments (for borrowing from the capital market), and subordinate loans. These can come from conventional banks, pension funds, infrastructure funds, export credit agencies and project bonds – a significant amount flowing in from government privatizations.

There is a shift taking place in the structure of project financing due to Basel 4 and IFRS 9 regulations, although bank finance will continue to be important. In the future, infrastructure funds and pension funds are more likely to directly finance projects as they are cost effective and represent a good liability-asset match. This is a healthy transition as it is likely to better serve the world's infrastructure needs.