Thank you, Mr. Chair.
My next question is for Mr. Sabia.
The Canada Infrastructure Bank is a taxpayer-funded bank, as you know, so the coziness of the bank with McKinsey creates the impression that there is an actual or even perceived conflict. I'm going to highlight some of the interactions and ask why you believe that the public perception of conflict is not so.
McKinsey provided pro bono research support to the advisory council, which was chaired by McKinsey's global managing partner, Dominic Barton. Then you sat on the council as a member appointed by the minister and as an institutional investor. Then you, Mr. Sabia, headed up the discussions around creating and designing an infrastructure bank. The council then recommended the creation of the Infrastructure Bank. The bank announced its first investment in the summer of 2018, the Montreal light rail project, which your pension fund was running.
To those looking from outside in, it looks like a conflict of interest for you, having benefited from sitting on the council that recommended the bank that then awarded your organization a taxpayer-funded investment. Can you explain why that perception is not so, or if it is so, why it happened?