Canada Infrastructure Bank

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About the Canada Infrastructure Bank

The Canada Infrastructure Bank (CIB) is a federal Crown corporation established to ensure that Canadians benefit from modern and sustainable infrastructure through partnerships between governments and the private sector. It does this through its core functions of supporting (through advisory, research and data) and investing in infrastructure projects, and acting as a centre of expertise on infrastructure projects by providing evidence-based advice to all levels of government. The CIB's activities leverage the capital and expertise of the private sector to achieve public outcomes and value for taxpayers.

The CIB helps public dollars go further by investing in revenue-generating infrastructure projects in the public interest and through the ability to utilize innovative financing tools. Its goal is to realize more infrastructure built across the country to benefit Canadians. By design, the CIB collaborates with federal, provincial, territorial, municipal, Indigenous and private investor partners to transform the way infrastructure is planned, funded and delivered.

Established in 2017 as part of the Investing in Canada infrastructure plan, the CIB's purpose, functions, governance structure and powers are defined under the Canadian Infrastructure Bank Act. The CIB was provided with $35 billion in capital through the act and its statutory purpose was established as being to:

"invest, and seek to attract investment from private sector investors and institutional investors, in infrastructure projects in Canada or partly in Canada that will generate revenue and that will be in the public interest by, for example, supporting conditions that foster economic growth or by contributing to the sustainability of infrastructure in Canada."

The CIB is headquartered in Toronto, it has established a national presence with regional offices in Montreal and Calgary, enabling ongoing engagement with partners across the country.

As a Crown corporation that operates at arm's length from the Government, the CIB's Board is responsible for the organization's ongoing governance and supervision of its business operations, forward planning, strategic direction, and investment decisions, in line with the Government of Canada's priorities. The CIB also works with the Government to align on a strategic vision of the organization through the annual corporate planning process.

The CIB's initial focus for investments includes large, transformative projects such as regional transit plans, transportation networks (such as roads and bridges) and electricity grid interconnections in the public interest. In addition to these core infrastructure priorities, the Bank's authorities evolved over time through Government guidance to also invest in additional priority sectors. This Government guidance was provided through subsequent federal Budgets and Statements of Priorities and Accountabilities, in response to feedback from stakeholders and a changing economic landscape. The CIB's priority sectors include:

  • Public Transit, including major transit projects, and zero-emission buses;
  • Green Infrastructure, including energy efficient building retrofits, water and wastewater;
  • Trade and Transport, including trade corridors, bridges, passenger rail, and agriculture related infrastructure; 
  • Broadband, including for unserved and underserved community broadband connectivity; and 
  • Clean Power, including renewables, district energy, storage, interties and transmission. 

Within these priority sectors, the Government has requested the Bank also support investments in Indigenous infrastructure projects.

In Budget 2022, the Government provided the Bank with authorities to invest in private sector-led infrastructure projects that accelerate Canada's transition to a low-carbon economy, enabling the Bank to consider investments in: small modular reactors; hydrogen and clean fuel production; transportation and distribution; and carbon capture, utilization and storage.

Progress to date

As of November 2022, the CIB has advanced 44 partnerships, which include 20 investments that have reached financial close, 5 memoranda of understanding, and 5 advisory engagements. The CIB has committed $8.3 billion in capital and attracted $7.8 billion in private and institutional investment to support partnerships and transformative projects across Canada, encompassing all of its priority sectors. Details of its investments and project partnerships are published on the CIB website.

The legislative review process

Under the Canada Infrastructure Bank Act (CIB Act), the Minister of Infrastructure and Communities, as designated Minister, is required to undertake a review of the provisions and operations of the Act every five years and report to Parliament:

  • Legislative Review

    27 (1) Every five years beginning on the day on which this Act comes into force, the designated Minister must have a review of the provisions and operation of this Act undertaken.

  • Report to Parliament

    27 (2) Within one year after the review is undertaken, the designated Minister must cause a copy of the report on the review to be laid before each House of Parliament.

The legislative review is an opportunity to reflect on and examine the CIB's experience to date in the current government and economic context. 

The review is currently underway and the Minister of Intergovernmental Affairs, Infrastructure and Communities intends to table a report on the review in Parliament in June 2023.

The legislative review will assess:

  • whether the policy premises and context that underpinned the creation of the CIB are still sound and pertinent;
  • whether the CIB's legislated mandate and authorities to support its operations remain relevant in the context of an evolving policy and infrastructure landscape; and
  • whether changes or clarifications are needed to position the CIB going forward.

The public engagement and outreach process will help inform the development of a final report to be tabled in Parliament in June 2023.

If you would like to share your views on any of the themes identified above, or raise any questions for consideration as part of the legislative review, please provide submissions in writing to: ipisecretariat-secretariatdelaipi@infc.gc.ca, before March 31, 2023.

Additional information