Today, the Honourable Catherine McKenna, Minister of Infrastructure and Communities, confirmed the government's acceptance of the CIB Board of Director's recommendation to appoint Ehren Cory as the Chief Executive Officer (CEO). Mr. Cory will provide pivotal leadership and direction to the CIB as it implements its three-year $10-billion Growth Plan, which was announced by Prime Minister Justin Trudeau, Minister McKenna, and Board Chair Michael Sabia on October 1.
Mr. Cory was selected by the Board of Directors of the Canada Infrastructure Bank following a recruitment process undertaken by the CIB that attracted diverse and highly qualified applicants. The Board of Directors subsequently recommended Mr. Cory for the Government's approval.
As the former President and CEO of Infrastructure Ontario, Mr. Cory brings extensive experience in working with the public and private sector on the financing, building and management of innovative and large-scale infrastructure projects.
As CEO, Mr. Cory will lead the CIB as it delivers its $10-billion Growth Plan that will help Canadians get back to work. The three-year plan is expected to create approximately 60,000 jobs across the country, connect more households and small businesses to high-speed Internet, strengthen Canadian agriculture, encourage the transition to clean power and help build a low-carbon economy.
Quotes
"The Canada Infrastructure Bank has an important role to play in Canada's economic recovery and expanding Canada's ambition to build more sustainable infrastructure and clean energy. I am pleased with the Bank's announcement of Ehren Cory as its new CEO, as he has extensive experience in getting innovative and large-scale infrastructure projects built. Our government is looking to Mr. Cory to deliver on the Bank's $10 billion Growth Plan that will create 60,000 jobs across the country, connect more homes and businesses to high-speed internet, strengthen Canadian agriculture, and accelerate the transition to a low carbon economy."
The Honourable Catherine McKenna, Minister of Infrastructure and Communities
Quick facts
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Through the Canada Infrastructure Bank, the federal government has committed $35 billion to support infrastructure projects across the country. This includes the Bank's $10-billion Growth Plan to invest in five major initiatives: clean power, broadband, large-scale building retrofits, agriculture irrigation and zero-emission buses and associated charging infrastructure.
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The CIB was announced as part of the Government of Canada's historic, over $180 billion Investing in Canada plan. The CIB was created to work in partnership with provincial, territorial, municipal, and Indigenous partners, and leverage the private sector, to build infrastructure across Canada.
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The CIB attracts private sector and institutional investment to build revenue-generating infrastructure projects that are in the public interest.
