Some of our predictions from last year have yetto fully develop. In that edition, we talked aboutthe coming convergence of real estate andinfrastructure within the investment market — a trend that has been slow to materialize butbecome increasingly important in its impact.We also expected swifter action on the impactinvesting and credit enhancement fronts.

Not surprisingly, therefore, there are a number of trends in this year’s report that could be seen as a continuation of previous evolutions. At the same time, this year’s edition also highlights topics that are only now emerging and, we believe, will continue to shape infrastructure markets for years to come.

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