In an increasingly interconnected global economy, infrastructure investment plays a critical role in fostering economic growth, enhancing competitiveness, and improving sustainable development. The global infrastructure investment gap remains substantial and is mostly concentrated in emerging markets and developing economies (EMDEs). Access to international private capital is also critical for infrastructure investment and development in EMDEs, but attracting foreign investors has been a challenge. This report focuses on one dimension of currency risks: foreign exchange (FX) risk, which is often a key barrier to attracting investors. Addressing FX risk requires macrofinancial as well as project level solutions.