"Analysis: Is Obama's Infrastructure Bank for Real?"
Nossaman Partner, Barney Allison, was quoted in the Project Finance article, "Analysis: Is Obama's infrastructure bank for real?" published on September 9, 2010. The article discusses President Obama's plans to create an independent bank with a $50 billion initial investment that would leverage private, state and local financing to build transportation projects of national and regional significance.
In the article Barney comments, "The administration may be talking about job creation but with this proposal there is also an emphasis on building long-term infrastructure." Although few details of the proposal are currently available, he also noted that there has been a general realization in government that a stimulus targeting shovel-ready projects, as the ARRA did, serves important near-term policy goals but may not necessarily be the best approach to finance infrastructure in the long run. "Large transportation projects take years to develop," he concluded, adding that an infrastructure bank would target these transformational projects.