Refine by MP, party, committee, province, or result type.
Finance committee Thank you, Mr. Chair. I'll be starting my remarks in French. Mr. Chair and members of the committee, good afternoon. My name is Annie Ropar. I am the chief financial officer and chief administrative officer of the Canada Infrastructure Bank. I am glad to be speaking to you toda
June 22nd, 2020Committee meeting
Annie Ropar
Finance committee Certainly, I'm not sure if I would agree with it being easier to give a grant. I don't think.... Depending on the situation, it may not be the best route to take in terms of leveraging taxpayer dollars available. As I said, we don't give grants. The big difference is that we ac
June 22nd, 2020Committee meeting
Annie Ropar
Finance committee Actually, as you're asking specific deal-related questions, I am going to turn that over to my colleague John.
June 22nd, 2020Committee meeting
Annie Ropar
Finance committee I think what would be useful here is an example of all the work that's involved before you can get an investment to a funding-ready stage.
June 22nd, 2020Committee meeting
Annie Ropar
Finance committee There are a number of projects that the CIB has in its current pipeline. I'd say they're all at various stages of assessment. I could give you a hard number, but it's a blend of different deals that are at different stages at this time point in time. There are certainly many.
June 22nd, 2020Committee meeting
Annie Ropar
Finance committee To clarify, if I'm understanding the question correctly, we would provide a part of the financing, whether it's structured as a loan or equity with interest, but then private sector investors would invest alongside us. They may come in at a different level, and obviously potentia
June 22nd, 2020Committee meeting
Annie Ropar
Finance committee I understand. Our portion of the financing, whatever CIB is participating in, does come from government, and it does come from the taxpayer. Any funds provided by third party investors are done through those institutions. Again, generally those funds are then collectively put int
June 22nd, 2020Committee meeting
Annie Ropar
Finance committee I can start. John, if you want to, jump in at any time. We need to make sure we articulate well the idea of risk transfer. A big part of bringing in private sector capital is that they take on a number of the risks associated with any given project, as a result of taking on this
June 22nd, 2020Committee meeting
Annie Ropar
Finance committee Yes, that is a fair point. I can walk through the independence of our investment process if the committee would like to hear about that.
June 22nd, 2020Committee meeting
Annie Ropar
Finance committee I can take that question. We can divide up the appropriations between two parts. There are capital appropriations, which are amounts that are funded for investments. As of the end of Q3 of the 2019-20 fiscal year, which is the last set of financials we have published, that total
June 22nd, 2020Committee meeting
Annie Ropar
Finance committee I'm sorry, that's just for the year-to-date fiscal Q3, December 2019. Last year, our full year fiscal expenses were about $11.4 million, the last fiscal year ending March 2019.
June 22nd, 2020Committee meeting
Annie Ropar
Finance committee Just to back up on that question, it's important to note to the committee that our CEO's base salary is disclosed via the OIC appointment, and that is disclosed on the OIC website. In addition, to give people the colour around our transparency, we do disclose in our annual repo
June 22nd, 2020Committee meeting
Annie Ropar
Finance committee Again, all of our disclosures around compensation appear in our notes to the financial statements, but I cannot comment on the specific terms of any one individual's employment agreement.
June 22nd, 2020Committee meeting
Annie Ropar
Finance committee Right now we are in compliance with all of our disclosure requirements for all financial aspects of our cost structure at the bank in accordance with current Treasury Board and Financial Administration Act guidelines. Obviously, the Auditor General, along with the private sector
June 22nd, 2020Committee meeting
Annie Ropar
Finance committee In our notes to the disclosures to the financial statements, once our annual report is submitted, which will be shortly, those notes to the financial statements will disclose, again on an aggregate basis, the compensation of the executive team as well as the board of directors.
June 22nd, 2020Committee meeting
Annie Ropar