Today, Catherine McKenna, Minister of Infrastructure and Communities, announced the appointment of Tamara Vrooman as Chair of the Canada Infrastructure Bank (CIB), effective immediately.
“Tamara is an excellent choice for Chair of the Canada Infrastructure Bank. She brings a strong financial and infrastructure background, and important leadership skills to the role. Tamara is the CEO of the Vancouver International Airport, led Canada’s largest community credit union through the 2008 financial crisis, and served as B.C.’s Deputy Minister of Finance where she steered the Ministry’s $36 billion fiscal plan, resulting in three AAA credit rating upgrades. She has the right background and experience, and she knows how to get things done,” said McKenna.
Chair of the Canada Infrastructure Bank
“I’ve had the privilege of working directly with Tamara when she was co-Chair of the 2018 Panel on Climate, advising myself and the Finance Minister. Tamara clearly understands the critical role of infrastructure in building our country, growing our economy, creating jobs and attracting investment and tackling climate change,” added McKenna.
Vrooman is one of Canada’s most respected executives. She brings to the CIB a wealth of experience in forming partnerships with domestic and global institutional investors on revenue-generating projects and engaging with public sector stakeholders.
“I’m honoured to be asked by Minister McKenna to serve as Chair of the Canada Infrastructure Bank. We have a vitally important job to do in fostering economic growth in Canada, at an especially critical time, through attracting and leveraging private investment for critical infrastructure projects. I’m also delighted to work with Ehren Cory and the Board of Directors to ensure the CIB fulfills its mandate,” said Vrooman. “Because of my background in both the public and private sectors, I believe I can be useful in bridging between the two to help the CIB develop and finance public interest projects of national importance.”
The Board of Directors is responsible for governance and oversight of the CIB. Vrooman will work with Ehren Corey, the bank’s CEO, as the CIB continues to deliver on the three-year, $10-billion Growth Plan. The plan is focused on investing in projects in five key sectors, including transit, green infrastructure, clean power, broadband, and trade and transportation. Vrooman replaces former CIB Chairperson Michael Sabia, who was appointed Deputy Minister of Finance by the Prime Minister in December 2020.
“On behalf of the Board of Directors, we welcome the appointment of Tamara as Chair. We look forward to adding her leadership, skills, and impressive track record to our team as we continue making impactful infrastructure investments across the country,” said Stephen Smith, Governance Committee Chair, CIB Board of Directors.
As part of the Government of Canada’s historic $180-billion Investing in Canada plan, the CIB is helping build high-value, transformative infrastructure for Canadians by attracting investment from private sector and institutional investors.