NEW DELHI: Rating agency Crisil today announced the launch of a new credit rating framework for infrastructure projects that would facilitate greater participation from long-term investors and lenders."Crisil, in consultation with the Ministry of Finance and other stakeholders, has developed a new credit rating framework for infrastructure projects that would facilitate greater participation by long-term investors and lenders," the rating agency said in a statement.The new rating system is based on the 'expected loss' (EL) methodology. Which means, the rating will be an expert judgement on EL over the life of the debt instrument by taking into account the two pillars of credit risk -- the probability of default (PD), and the prospects of recovery, the statement said.Crisil had recently assessed that India's infrastructure sector needs Rs 43 lakh crore investments over five years ending March 31, 2020, and domestic corporate bond market will have to chip in with at least Rs 11 lakh crore because of capital constraints at public sector banks."Crisil believes that there is a need for new innovative structures such as infrastructure debt funds, and credit enhancement mechanisms such as partial guarantees, that would enable long-term investors such as insurers and pension funds to pitch in and bridge the funding gap," the statement said.