The Canada Infrastructure Bank has asked the federal government for millions of dollars in operational expenses over the past year — even though it has announced only one project so far.
According to Finance Canada documents obtained through the Access to Information Act, in March 2018 the bank requested a draw-down from the federal Consolidated Revenue Fund of $5,756,000 to cover operational expenses until the end of June. That followed an earlier request in August 2017 for $5,610,000 to cover initial expenses.
The two requests amount to $11,366,000 to pay for salaries and compensation, administration, legal services, travel, communications, IT and other professional services. In August 2017, the bank also asked Ottawa for $1,381,000 to cover capital expenses; according to the documents, the bank is not requesting any more funds for capital expenditures at this time.
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