Trudeau Bestows $26 Billion Infrastructure Bank on Toronto
- Government begins hiring process, aiming to launch this year
- Calgary mayor had hoped to bring headquarters to oil patch
Trudeau Bestows $26B Infrastructure Bank on Toronto
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Justin Trudeau is setting up his new infrastructure bank in Toronto, rebuffing a campaign from the heart of Canada’s oil patch to see it headquartered outside the country’s financial hub.
Infrastructure Minister Amarjeet Sohi announced the location Monday as he launched a search for a chairperson, board and chief executive officer of the bank, which will be financed with C$35 billion ($25.6 billion) in government funds. The “goal” is to have the bank in operation late this year.