While there is no single, consistent definition of risk in the literature on infrastructure, it is often defined as the probability of a loss or unwanted outcome. Another definition is that a risk is a potential problem, which can be avoided or mitigated. This paper focuses on common risks faced by the private sector when they are involved in infrastructure projects. Therefore, risk is defined as a situation or condition of investment that leads to consequences or costs for external investors that require mitigation, management or offsetting returns.
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