Government austerity and distrust of the private sector has led to a “lost opportunity” for infrastructure funds, according to rating agency Standard & Poor’s, in a development that could drive them to other sectors and geographies beyond Europe.

In a report "EU Infrastructure: Tackling the Funding Deficit to Unlock the Financing Surplus" published on October 14, S&P cited austerity and affordability as the biggest barriers to funding for infrastructure projects, despite low interest rates and plentiful debt finance.