Question Period Note: Canada Infrastructure Bank Projects and Investments

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About

Reference number:
INFC-072023-INFC-0004
Date received:
Sep 26, 2022
Organization:
Department of Housing, Infrastructure and Communities
Name of Minister:
LeBlanc, Dominic (Hon.)
Title of Minister:
Minister of Intergovernmental Affairs, Infrastructure and Communities

Issue/Question:

Progress of the Canada Infrastructure Bank’s projects and investments.

Suggested Response:

  • The Canada Infrastructure Bank (CIB) has made significant progress in advancing its goal to attract private and institutional investment in projects and use innovative financing tools to get more infrastructure built for Canadians.

  • The CIB has advanced 39 signature projects, committed $7.6 billion in CIB capital and attracted $7.7 billion in private and institutional investment to support partnerships and transformative projects.

  • The CIB is making a difference by connecting Canadians, creating good jobs and helping reach our climate goals with projects like Enwave District Energy and Algoma Steel in Ontario; rural broadband in Manitoba; zero-emission buses across the country; and energy retrofits in Quebec.

Background:

  • The CIB has announced a total of 39 projects in its five priority sectors located across Canada (as of September 2022):
    o Public Transit 9 projects
    o Clean Power 7 projects
    o Green Infrastructure 9 projects
    o Broadband 4 projects
    o Trade and Transportation 11 projects
    Note: one project counts as both Clean Power and Broadband

  • Building upon the CIB’s “ Growth Plan,” $21.6 billion in total project capital cost has been announced (as of June 2022).
    o $7.6 billion in approved CIB investments
    o $7.7 billion from Private and Institutional Investors
    o $6.3 billion from other Public Partners

  • The CIB’s website includes a list of the projects they are currently investing in, with explanations on how the projects are helping Canadians.
    o https://cib-bic.ca/en/partnerships/

Additional Information:

This note is identical to the note with the same title published after December 2022