I do project finance for infrastructure and you are right in...

I do project finance for infrastructure and you are right in that banks won't be clamouring to finance this. The issue is sovereign risk and that is why we need the German Govt Guarantee, which is given for strategic reasons (ie looking past commercial and sovereign risks). KfW being a development bank is best placed for that (you can write off EFIC - there is no Australian link) because of the German customers. It won't be easy but it isn't impossible. The fundamental position for KfW hasn't changed and the sovereign risk arguably hasn't changed but everyone is reminded of it very clearly.