AUZ at the bottom, page-489

Hi vintage
The NAIF board become involved in stage 2, The Strategic Assessment phase, which if you look at the website is a critical stage.
The DD stage is the independent assessment as supplied by the proponent, hence why the engagement of financiers during the BFS, their reports will be utilised I dare say in this process.
I have read the requirements previously and understand the process, so saying all stages aren't equal is a misrepresentation on your behalf.
Perhaps a good thorough read by yourself will assist in particular the eligibility critea and public benefit parts then read the BFS in regards to infrastructure.