Madam Chair, the interesting thing about public transit projects at all levels—high-speed rail, and it's true for municipal transit as well—is that the direct revenues they generate—fares, or development around the line—are never going to fully pay for the transit, so you're always going to have a blended finance solution.
The CIB has looked at the early stages of studies on what the traffic volumes and profitability could be. We think there's an investment opportunity for both us and the pension funds for the project.
