; and (B) $271,000,000,000 is needed for publicly owned wastewater systems-related infrastructure needs over 20 years. (6) According to the Edison Electric Institute, the electric power industry will need to invest $298,000,000,000 in the Nation’s transmission system in the next 20 years in order to maintain reliable service. (7) Although grant programs of the Government must continue to play a central role in financing the transportation, environment, energy, and telecommunications infrastructure needs of the United States, current and foreseeable demands on existing Federal, State, and local funding for infrastructure expansion exceed the resources to support these programs by margins wide enough to prompt serious concerns about the United States ability to sustain long-term economic development, productivity, and international competitiveness. (8) The capital markets, including central banks, pension funds, financial institutions, sovereign wealth funds, and insurance companies, have a growing interest in infrastructure investment. The establishment of a United States Government-owned institution that would provide this investment opportunity to finance qualifying infrastructure projects would attract needed capital for United States infrastructure development. 3. Definitions For purposes of this Act, the following definitions apply unless the context requires otherwise: (1) American Infrastructure Bond The term American Infrastructure Bond means a bond described under section 17. (2) Bank The term Bank means the National Infrastructure Development Bank established under section 4(a). (3) Board The term Board means the National Infrastructure Development Bank Board. (4) Chief asset and liability management officer The term chief asset and liability management officer means the chief individual responsible for coordinating the management of assets and liabilities of the Bank. (5) Chief compliance officer The term chief compliance officer or CCO means the chief individual responsible for overseeing and managing