Morneau provides new CIB details

16 May 2017 The federal cabinet will have final approval of any new projects that are funded through the new Canadian Infrastructure Bank (CIB), according to Finance Minister Bill Morneau.

Despite the intentions for the bank to operate independently from government, the CIB will need approval from the cabinet to proceed with its projects. 

"We will always need to have some level of oversight," Morneau said in Ottawa. "We will need to have approval to make sure those projects make sense for Canadians, of course. But the organization, the financing and the management of those projects will be left to the Canada Infrastructure Bank to execute." 

As previously reported, the CIB is now set to be operational at some point this year after Infrastructure Minister Amarjeet Sohi announced that selection of management roles at the organization was underway.  The bank will be based in Toronto. 

This page was last updated on:
12 December 2017.

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