Should be so, hope you are right (didn’t find rates in the pdf). However, these are all temporary, can change a lot on the timescale of such investment. I recall Brazil had a development bank with special rates to get around this problem, but that way is potential source of corruption. Chinese economy is also unstable. Need a risk model. Although not perfect foresight - that’s only a concept of IAMs - real investment made by people acting on promising trends then retiring.