California Infrastructure and Economic Development Bank
From Wikipedia, the free encyclopedia
Company typePublic bank
IndustryBanking
financial services
financial services
Founded1994 in Sacramento, California[1]
Headquarters,
United States
 | |
| Company type | Public bank |
|---|---|
| Industry | Banking financial services |
| Founded | 1994 in Sacramento, California[1] |
| Headquarters | , United States |
Area served | California |
Key people | Scott Wu (executive director |
| (2021) | |
 US$519.14 million[2] | |
| Owner | Government of California |
The California Infrastructure and Economic Development Bank (IBank) is a state-owned, state-run financial institution based in Sacramento, California. The bank operates under the Bergeson-Peace Infrastructure and Economic Development Bank Act of 1994 and is governed by a five-member board of directors.[3] Part of the banks purpose is to aid the development and financing of infrastructure projects, ranging from roads to the improvement of port facilities, by issuing bonds and providing financing to public agencies.[4][5][6][7] Extending from this the bank created the California Lending for Energy and Environmental Needs Center (CLEEN) to help address greenhouse gas emissions within the state.[8][9]