Finance committee  The precise value-added role of having an independent, arm's-length entity is that a public sponsor brings forward a project. Then, really, it's up to the bank to determine with that sponsor whether or not there is an appropriate investor base for that particular project. That re

Finance committee  I don't think we're going to comment on hypotheticals. We can explain what's before us in the legislation.

Finance committee  We can reiterate the point that PPP Canada is a procurement...about how a project is constructed downstream. The Canada infrastructure bank is designed to arrange the project financing. This could include a P3 structure for procurement if that's what the project wants. We see the

Finance committee  With the objective set out for the bank and the mandate subject to parliamentary approval, the bank could be operating this fall. We have a planning date of November, and then, really right out of the gate, we'll be working on the advisory function and working with our municipal,

Finance committee  I'm already in continuous engagement with both sets of stakeholders involved in the bank, and I'm having a discussion with my ADM colleagues in the federal, provincial, and territorial universes tomorrow, really to tee up, so that the moment the bank is operating and, quite frank

Finance committee  Yes, it can in the sense that, if the Government of Canada, through the bank, made an investment in a project that had risk at the outset—meeting the test in the short run of having to absorb some risk—and that project performed and exceeded expectations, then the bank itself cou

Finance committee  Mr. Chair, the bank will follow modern and robust legal and investment agreements that contemplate all these potential scenarios, through the finance planning stage, the construction stage, and the operating stage. That will ensure everyone knows the rules of the game through agr

Finance committee  The purpose is to use federal support strategically in a project, to put the minimal amount of federal support needed to absorb a risk in a project that would otherwise not have been built or has too much risk, particularly for another government and the private investor to come

Finance committee  The infrastructure bank itself would have its own financial statements that would be list its assets and liabilities, and that would be for the corporation on a project-by-project basis. We've already testified that there will be an accounting determination on an annual basis by

Finance committee  Thank you for your question. Mr. Chair, this is not interpreted as a levered corporation in that respect. First, to reduce the cost in the treasury function, unlike other crown corporations, the government is not going to give it a lump sum amount of money that it has to manage.

Finance committee  Thank you. Mr. Chair, first let me say that, in the previous three years prior to taking on this role, I was in charge of the Bank Act in Canada and I understood banks and banking, name use, and functions. It is quite clear that the entity as constructed, even though it's a crow

Finance committee  I'll let my colleague Mr. Fleming answer.

Finance committee  I would say, Mr. Chair, it's the opposite, in the sense that it's transparent. A project would not necessarily be leveraged, as every participant would have a tranche or a share in that project. The Government of Canada's share through the bank would be transparent. To the extent

Finance committee  Yes. Mr. Chair, the narrow exemption that's included in this legislation parallels the similar exemptions that exist under Export Development Canada and Business Development Canada, two other crown corporations. It is specifically targeted to protect the counterparty or client i

Finance committee  The Access to Information Act applies. Therefore, the various exemptions under the existing act will apply, depending on the circumstance. The bank will be charged with fulfilling the obligations under that act, whatever applies, or the exemptions. This is one additional very nar