Home Canada Canada Infrastructure Bank failing to secure private investment, PBO says

Canada Infrastructure Bank failing to secure private investment, PBO says

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Canada Infrastructure Bank failing to secure private investment, PBO says

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The Canadian Press

Posted March 23, 2021 11: 58 am

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Parliament’s funds watchdog says a federal infrastructure financing company has but to meet a key facet of its mandate: pulling in private bucks for main initiatives.

The Trudeau Liberals created the infrastructure company in 2017 to deal with that gap by utilizing $35 billion in federal financing to pull in two or thrice that in private bucks.

Parliamentary funds officer Yves Giroux wrote Tuesday that the Canada Infrastructure Bank has committed ethical over $4 billion for initiatives, but none delight in funding from private investors.

As a replace, the money from the bank is coming from other public-sector entities like municipal and provincial governments, as successfully because the Quebec pension idea.

Neither is it obvious that private bucks are contemplating any of the ideal 13 initiatives wherein the company is participating, Giroux writes.

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The PBO file says eight of the 13 initiatives personal but to insist a financial commitment and are at bid under both a memorandum of working out, in a mission acceleration section or receiving advisory products and services.

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Canada Infrastructure Bank failing to secure private investment, PBO says