Ann: Investment and Offtake Agreement with LGES and POSCO, page-343

I believe they also have rules. Their role is to help businesses the country needs, to get a start. Their due diligence process is designed to select businesses that are also most likely to operate profitably for a long time. Not a good look if the business depends heavily on govt loans just to get started.

By the same token, obtaining a commercial loan from a bank or VC means they get a vote of confidence from those commercial lenders.

Looking at the preliminary numbers, QPM will have no problems finding the funds required for a start.