That's a great question.
We do benchmark it across projects. The due diligence costs of this project were higher than average. You heard me talk about the other two projects that had been suspended. If you noticed, those numbers are much smaller. This is a more complex project. It would be one of our larger investments. Our largest investment to date is the REM, which was $1.3 billion. We have other significant investments in the $500 million to $1 billion range. This is a big one. The due diligence costs were higher, but as a proportion of the investment they were quite small and highly competitive. We do benchmark it as well. When we talk to other institutional investors, when we talk to the pension fund...they would say that it's actually quite a competitive rate.
The last thing I'll say about that is that one thing at CIB that we've been very focused on is bringing that cost down, thinking about standardized tools and projects. This is a very bespoke project—a one of one. No one else is building wires underneath Lake Erie. However, when we do loans for zero-emission bus fleets, which we've done with the City of Ottawa, the City of Brampton, Durham Region, school bus operators in Quebec, etc., we've tried to create standard documents, standard legal terms, lower due diligence costs. We are trying to do that on every deal where feasible.
Thank you, Chair.