Canadian Government Executive - Volume 24 - Issue 02

26 / Canadian Government Executive // March/April 2018 INTERVIEW Q: Can you tell us about the kinds of projects the Bank will consider? Many infrastructure projects by their very nature tend to be large, complex and long-term. Our legislation states that Bank-supported projects must be revenue- generating and in the public interest. The investments made by the Bank will align with the Government of Canada’s high- level priorities – public transit, green in- frastructure, and trade and transportation. Q: Why does Canada need a new model for infrastructure investing? We can all agree that across the country, new infrastructure is needed to facilitate transportation, economic and social devel- opment, and improve the environment. By attracting private sector and institutional capital to invest in revenue-generating projects alongside public funding, we aim to help governments build new infrastruc- ture that might not otherwise get built, in- creasing assets and services for Canadians. We are pursuing creative ways to get proj- ects done. I should note that our organiza- tion isn’t intended to solve the country’s entire infrastructure “gap”. The Bank is one part of the federal government’s broader, long-term infrastructure plan. Q: Why would various govern- ments and private sector investors consider working with the Canada Infrastructure Bank? For municipal, provincial, territorial and Indigenous governments and their agen- cies, we offer another option for building new infrastructure projects. It’s important to note that the Bank does not replace tra- ditional sources of government funding for infrastructure; we are a new, additional op- tion. For private sector investors, the Bank opens the door to a wider array of Cana- dian infrastructure investment opportuni- ties then they had before. Q: What is the difference between the Canada Infrastructure Bank model and public-private partner- ships (P3s)? Successful P3s have shown that private investors bring innovation in the planning and design of a project, and discipline in budgeting, scheduling and delivering an Chair of Canada Infrastructure Bank Janice Fukakusa In conversation with T he Canada Infrastructure Bank is a Crown corporation that operates at arm’s length from the government. The Bank, established in 2017, is headquartered in Toronto and governed by an independent Board of Di- rectors. It will invest up to $35 billion in federal support over the next decade, and attract private sector and institutional investment to new revenue-generating infrastructure projects that are in the public interest. By engag- ing the expertise and capital of the private sector, the Bank will help provide more infrastructure across Canada. Janice Fukakusa is the inaugural Chair of the Bank, and we caught up with her to ask a few questions as the work continues to set up this new Crown corporation.