Canadian gov’t appoints former RBC exec as infrastructure bank chair

janice fukakusa

Janice Fukakusa, a former Royal Bank of Canada CFO, was appointed as the first chairperson of Canada’s new infrastructure bank, according to Reuters.

“Today’s announcement is another step forward in fulfilling our commitment to have the Canada Infrastructure Bank operational by the end of 2017,” Infrastructure Minister Amarjeet Sohi said in a statement.

The government first announced the search for its infrastructure bank leadership team in early May. The infrastructure bank is part of a broader plan to invest $180 billion over 12 years in improving the country’s infrastructure.

The Canada Infrastructure Bank is meant to build new infrastructures like green energy transmission and trade and transportation corridors, with the latter often being called out as a barrier to ecosystem growth.

The government also plans to appoint a CEO and board members for the bank in the coming months.

Photo via PE Hub Canada

Jessica Galang

Jessica Galang

Jessica Galang is BetaKit's News Editor.