The head of a federal infrastructure agency says a new set of investing orders from the Liberal government should make it simpler to deploy more funding in the coming months.
The recent federal budget added to the Canada Infrastructure Bank's plate by requiring it to now spend public dollars on private sector-led projects like small modular reactors, clean fuel production, and carbon capture and storage.
Cory says while he expects the pace of projects to stay at a higher clip, uncertainty from supply chains and global inflationary pressures are affecting project work. The Liberals infused the infrastructure bank with $35 billion in federal financing to pull in two or three times that in private dollars, arguing it would stretch Ottawa's capacity to fund the building of more roads, bridges, energy, water and wastewater systems.
The money the agency has committed is expected to come back to it in loan repayments, and Cory said repayments have already started. As the money comes back in, he said the money gets recycled into other projects that will stretch the agency's impact — even if not every project hits a three-to-one multiplier.
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