Ehren Cory said he welcomed the federal government’s recent budget announcement that the bank will invest $500-million in zero-emission transportation projects
Canada Infrastructure Bank CEO Ehren Cory says expanding the country’s network of EV charging stations is a perfect fit for his organization and suggested the bank may recoup its investments or even turn a profit.
Finance Minister Chrystia Freeland’s April 7 budget included an announcement that the CIB would have a “broadened role” to invest in projects that accelerate Canada’s transition to a low-carbon economy. The budget said this allows the bank to invest in small modular reactors, clean-fuel production, hydrogen production, transportation and distribution, and carbon capture and storage.
Mr. Cory said the priorities for the CIB as described in the budget “are all perfect examples” of how the bank can help get more projects build more quickly. It is the kind of situation, he said, that fits well with the bank’s mandate to take on some business risk so that private investors move ahead with infrastructure projects.
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