 | |
Native name | Banque de l'infrastructure du Canada |
|---|---|
| Company type | Crown corporation |
| Industry | Public Private Partnership - Infrastructure |
| Founded | June 22, 2017 |
| Headquarters | Canada |
Key people | Ehren Cory (CEO) Tamara Vrooman (chairperson) Dominic Leblanc (minister responsible) |
| CA$3,316,000 [1]: 7 (September 30, 2019[1]: 7 ) | |
| Total assets | CA$796,408,000[1]: 6 (September 30, 2019[1]: 6 ) |
| Total equity | CA$796,408,000 (September 30, 2019[1]: 6 ) |
| Owner | Government of Canada |
Number of employees | 95 (June, 2022.) |
| Website | cib-bic |
The Canada Infrastructure Bank (French: Banque de l'infrastructure du Canada) (CIB) is a federal Crown Corporation of Canada tasked with financially supporting revenue-generating infrastructure projects that are "in the public interest" by catalyzing private investment through methods such as direct investment and public-private partnerships.
The bank was set up in coordination with equity investors such as BlackRock and Canada's largest pension funds. The CIB was officially established in June 2017. Its inaugural chairperson was former Royal Bank of Canada CAO and CFO Janice Fukakusa. The CIB functionally replaced PPP Canada, which was dismantled in 2018.
The CIB's stated purpose is to support the government of Canada's official infrastructure priorities, such as investing in public transit, trade and transportation, and green infrastructure.
The bank's role and operations have been criticized by a wide variety of associations, scholars, and opposition parties from its early beginnings. Critics have decried the CIB's lack of transparency, poor efficiency, and high costs. In May 2022, the House of Commons transport committee recommended that the bank be abolished.