Amendment NDP-21 seeks to delete lines 31 to 33 on page 238, in the provision setting out the bank's functions. The purpose is to make it impossible for the bank to receive unsolicited infrastructure proposals from private investors. The paragraph in question indicates that unsolicited projects can be funded by the Canada Infrastructure Bank. Consider a project that isn't a priority for a municipality or province, for instance. Since a public sponsor is needed, there is nothing stopping a private investor from submitting a project proposal to the municipality for its support.
What municipality would be crazy enough to turn down an infrastructure project? That's why we're talking about unsolicited projects that could end up having municipality support—projects that were on the drawing board but not considered priorities initially. They become priorities, however, because private investors have found a way to make money. That is not the work of an infrastructure bank but, rather, a bank that supports private investors and their profits. That is something altogether different.
Unsolicited projects are particularly problematic when you have investors saying that they have an amazing project that will bring in millions of dollars. They ask the mayor and the premier whether they want to partner with them on the project, and it will be very tough for those officials to turn down such a proposal. We are talking about unsolicited projects from the outset, so my amendment would prevent those kinds of projects. It is imperative that a province and municipality deem a project to be a priority before it is funded through the Canada Infrastructure Bank.