OTTAWA — The state of Washington is exploring whether Canada’s new infrastructure bank could help finance a multibillion-dollar proposal for high-speed rail between Vancouver and the Pacific Northwest, The Canadian Press reports.
The Trudeau government’s soon-to-be-launched, $35-billion infrastructure bank will seek to use public funds as leverage to attract billions more in private investment for major infrastructure projects, such as bridges, transit systems, and rail lines.
The legislative blueprint for the bank also allows for the use public money to help bankroll projects “in Canada or partly in Canada,” provided there’s a financial benefit and a physical connection to the country. The state of Washington is hoping those guidelines lead to the infrastructure bank becoming a potential financing option for long-discussed high-speed rail system that would connect between Portland, Seattle, and Vancouver. For the full story, click here.