Parliament's fiscal watchdog says the Canada Infrastructure Bank is more than $20 billion short of its investment targets for the coming years.
In a new report, the Office of the Parliamentary Budget Officer says the infrastructure bank is on track to disburse $14.9 billion by 2027/28 — well below its $35-billion goal.
That sum is also $1 billion lower than earlier PBO projections from 2021.
The bank invests alongside private and public sector partners to help get green energy and other infrastructure projects off the ground in Canada.
The report says the infrastructure bank has already hit its goal of investing $1 billion in Indigenous-led projects.
The infrastructure bank also has sector-specific investment goals for five priority areas, but the PBO says the Crown corporation is not on track to meet any of those targets either.
Picture Courtesy: THE CANADIAN PRESS/Jeff McIntosh
