Justin Yifu Lin and Kevin Lu argue the importance of private financing for infrastructure, which contributes to growth in China and many sub Saharan countries.

Infrastructure projects should have a new definition, considering: a link between the internal rate of return and the economic rate of return.  Private-sector sponsors should be given space of initiate valuable projects.  The political risks of public-sector involvement and the lower return from infrastructure relative to private equity.

Infrastructure projects demand special technical expertise.  To make their projects more efficient and cost-effective, specially-trained overseers will have to be deployed.

Certainly in China, private investment is vital.  Maybe it is in the US too?