2 Min Read
(Adds details, background on infrastructure bank)
By Matt Scuffham
TORONTO, Feb 10 (Reuters) - Canada could finance some future infrastructure projects entirely through private sources, without using government funds, the special advisor for its new infrastructure bank said after his appointment on Friday.
Canada's Liberal government announced last November it would set up the agency to supplement government investment in projects like new roads and bridges with funding from private investors such as pension and sovereign wealth funds.
The government advisory panel that recommended its creation had said it could look to raise C$4 to C$5 of private funding for every C$1 provided by taxpayers to fund projects.
However, Jim Leech, the pension executive recruited on Friday to advise the government on the bank, said it could go further with private investment on some projects.
"I'm sure that there are many projects that won’t need any investment from taxpayer money. They can be totally funded by the private sector," Leech said.
New U.S. President Donald Trump has said he will launch a $1 trillion infrastructure spending program financed entirely by private sources. Infrastructure products are traditionally funded by a mix of private and public investment.
Reporting by Matt Scuffham; Editing by Lisa Shumaker and Meredith Mazzilli