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Clifford Chance

Clifford Chance

Briefings

When is an infrastructure bank not a bank?

22 August 2014

With much fanfare, President Obama announced on July 17th the Build America
Investment Initiative (the Initiative), which includes establishment of the Build America
Transportation Investment Center (the Investment Center) within the US Department of
Transportation (DOT). Some commentators rushed to label the Investment Center an
“infrastructure bank” but this is a clear mischaracterization of the scope of the
Initiative. In this Client Briefing we review what the President’s Initiative is, what it is
not, and what it indicates about the state of the P3 market in the US.

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