It is the first time the agency has handed out money without an expectation of repayment.
Independent senator says the government has yet to fully answer questions about the so-called infrastructure bank.
If revenues fall short, federal investments through the bank would act as a revenue floor to help make a project commercially viable.
Liberals see the bank as a way to use public dollars to leverage private funding for expensive infrastructure projects.
The details of BlackRock’s relationship with the federal Liberals is ruffling feathers among opposing politicians.
Government expects the agency to be up and running by the end of the year.
Public money could be used to bankroll or financially backstop projects that are “in Canada or partly in Canada.”
Aim is to link clean power systems regionally to create a cross-Canada grid.
OTTAWA — One of the architects of the Liberals’ proposed infrastructure bank says opposition to the idea is short-sighted, stupid and irresponsible. Liberal MP Adam Vaughan, parliamentary secretary to Prime Minister Justin Trudeau, says the whole idea of the bank…
Government will prime the bank’s pump with $35 billion in public money to attract foreign capital.