Funding doesn't work like that. It's not "we have to settle for 9% return instead of 10%". Everything is done at the margin. So if someone prices out a project

Funding doesn't work like that. It's not "we have to settle for 9% return instead of 10%". Everything is done at the margin. So if someone prices out a project where they can expect 10% return but now you tell them they are only going to get 9%, then the risk may not be worth it. You may not think like this, but I guarantee you the people in charge of allocating capital do think this way.