No, they tend to raise money broadly and then apply the funds to both loans to and investments in particular projects. Those projects tend to be P3. I must disagree with Mr. Cross when he says that the governments are taking all the risks. The private sector is taking the risks in a properly designed P3 that the international investment banks sponsor. The best example of that is the International Finance Corporation, which is the World Bank's twin, which deals only with the private sector. They make sure that the private sector is running significant risks and takes the main burden of the risk. It's the whole point of not just handing money out at the World Bank level to governments to do with it what they sometimes do very badly.
On November 7th, 2017. See this statement in context.