TORONTO — The federal government’s decision to locate the Canada Infrastructure Bank in Toronto is an important and welcome step forward according to the Canadian Council for Public-Private Partnerships (CCPPP).
A CCPPP media statement released May 8, the day the announcement was made by federal Infrastructure Minister Amerjeet Sohi, indicated, "Toronto is recognized as a global financial services centre with strong connections to the world's leading financial hubs, including New York, Chicago and London."
"Toronto provides the necessary supports to attract the preeminent, international talent and expertise needed to ensure the Canada Infrastructure Bank is successful," says Mark Romoff, CCPPP president and CEO. "The council is optimistic that the bank will play a significant role in attracting more private capital while growing the pipeline of P3 projects across Canada."
The Toronto Financial Services Alliance (TFSA) also welcomed the announcement in a statement.
"Toronto is the headquarters for Canada's financial industry and has established a global reputation for excellence as a leading centre for infrastructure financing and public-private partnerships," said Janet Ecker, president and CEO of the TFSA.
Canada's major infrastructure investors, including three of the largest pension funds in the world, Canada's two largest insurance firms, and almost all of Canada's domestic and foreign banks are based in Toronto, noted the TFSA.
Infrastructure Ontario, the country's leading provincial agency for infrastructure financing, is also based in Toronto, said the statement.