Ehren Cory has been appointed as the new chief executive officer of the Canada Infrastructure Bank (CIB).
Cory was selected by the Board of Directors of the CIB following a recruitment process that attracted diverse and highly qualified applicants. The Board of Directors subsequently recommended Cory for the Government’s approval.
Catherine McKenna, minister of infrastructure and communities, confirmed the government’s acceptance of the CIB Board of Director’s recommendation to appoint Cory to the position.
“The Canada Infrastructure Bank has an important role to play in Canada’s economic recovery and expanding Canada’s ambition to build more sustainable infrastructure and clean energy,” said McKenna.
“I am pleased with the Bank’s announcement of Ehren Cory as its new CEO, as he has extensive experience in getting innovative and large-scale infrastructure projects built,” added McKenna. “Our government is looking to Mr. Cory to deliver on the Bank’s $10-billion Growth Plan that will create 60,000 jobs across the country, connect more homes and businesses to high-speed internet, strengthen Canadian agriculture, and accelerate the transition to a low carbon economy.”
Through the CIB, the federal government is providing provincial, territorial, municipal, Indigenous, and private partners with access to innovative financing to get more projects built and bolster Canada’s economic recovery from the impact of the COVID-19 pandemic.
Cory will provide leadership and direction to the CIB as it implements its three-year $10-billion Growth Plan, which was announced by Prime Minister Justin Trudeau, Minister McKenna, and Board Chair Michael Sabia on October 1, 2020.
The three-year plan is expected to create approximately 60,000 jobs across the country, connect more households and small businesses to high-speed Internet, strengthen Canadian agriculture, encourage the transition to clean power, and help build a low-carbon economy.
As the former president and chief executive officer of Infrastructure Ontario, Cory brings extensive experience in working with the public and private sector on the financing, building, and management of innovative and large-scale infrastructure projects.