Crowdfunding as a Catalyst to Spur infrastructure Development in Rural Communities in Developing countries: Opportunities and Challenges

Oladokun Nafiu Olaniyi

Department of Finance and Banking Curtin University, Malaysia

DOI: https://doi.org/10.35609/gcbssproceeding.2020.11(87)

ABSTRACT


Rapid decline in commodities price and slow economy grow has increased stress on government budget at all level. The strain in government budget has in particular tremendous impact on rural communities. Deep understanding of the underlying issues makes it necessary for the adoption of innovative means of financing infrastructures. Crowdfunding has provided new tools for mobilizing funds to finance various projects globally. Effective utilization of this innovative financing tool has potential to enhance infrastructure development in rural communities. This paper explores the opportunities and challenges for effective mobilization of funds through crowddfunding for financing infrastructures in rural communities. The Finding of this paper is expected to identify the various models of crowdfunding and challenges in relation to its implementation in developing countries.


Keywords: Crowdfunding; Infrastructure; Developing Countries