The headlines have often made little distinction between the different types or categories of infrastructure and what may or may not be appropriate for private funding. The term infrastructure can mean different things to different people and communities. Indeed, even among infrastructure finance practitioners there has often been little consistency in terminology. These inconsistencies make it difficult to comment on what projects or opportunities might be appropriate for private funding. They also make it difficult to determine the different sorts of private finance available; the different approaches that can be taken to procure, structure, and fund projects; and how these may change over time. In this Report we attempt to set out some clear and straightforward descriptions of different types of infrastructure projects. From a financing perspective, any definition needs to take into account both the money flows into and the risk-and-reward nature of infrastructure. This means that any definition will need to capture the fact that infrastructure opportunities are usually capital-intensive and include a tangible asset that must be operated and maintained and that will generate stable long-term cash flows.