EDMONTON, Alta. — The Alberta government is prepared to give up its ‘debt-free’ status in order to borrow money to address its infrastructure shortcomings.
The province has a $7.2 billion infrastructure deficit and Infrastructure and Transport Minister, Lyle Oberg, suggests it may be worthwhile borrowing money to address that. He says special Alberta bonds may be issued to help raise funds, while the province would also take out bank loans and enter into more public-private partnerships.
“Aging infrastructure continues to lead to increased maintenance and rehabilitation requirements,” reads an internal report. “When maintenance is deferred, infrastructure will deteriorate much more rapidly, decreasing the useful life of capital assets.”
The report also calls on MLAs “to approve debt financing options for alternative financing in order to meet the infrastructure deficit and escalating pressures in the province.”
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