The precise value-added role of having an independent, arm's-length entity is that a public sponsor brings forward a project. Then, really, it's up to the bank to determine with that sponsor whether or not there is an appropriate investor base for that particular project. That really is a market-determining function of whether or not a project is bankable, and that provides the feedback mechanism to the sponsor of that project as to whether they want to continue under the infrastructure bank model.
