The California Infrastructure and Economic Development Bank (IBank) is a

state-owned State ownership, also called government ownership and public ownership, is the ownership of an industry, asset, or enterprise by the state or a public body representing a community, as opposed to an individual or private party. Public ownersh ...

, state-run

financial institution Financial institutions, sometimes called banking institutions, are business entities that provide services as intermediaries for different types of financial monetary transactions. Broadly speaking, there are three major types of financial insti ...

based in

Sacramento, California ) , image_map = Sacramento County California Incorporated and Unincorporated areas Sacramento Highlighted.svg , mapsize = 250x200px , map_caption = Location within Sacramento C ...

. 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. 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. 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.

References

External links

{{authority control Banks based in California Government-owned banks Government-owned companies of the United States American companies established in 1994 1994 establishments in California Banks established in 1994