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Axel Weber, chairman of UBS Group AG, looks on ahead of a Bloomberg Television interview in Berlin, Germany, on Tuesday, May 23, 2017. (Krisztian Bocsi/Bloomberg)
Axel Weber, chairman of UBS Group AG, looks on ahead of a Bloomberg Television interview in Berlin, Germany, on Tuesday, May 23, 2017. (Krisztian Bocsi/Bloomberg)

UBS chair says Canada’s infrastructure bank could be global ‘blueprint’ Add to ...

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The chairman of Swiss banking giant UBS AG is throwing his support behind Canada’s plans to create a federal infrastructure bank, saying aspects of the plan could provide a “blueprint” for financing global investments.

Axel Weber, a former central banker in Germany, believes Canada has a promising constellation of factors converging to create the Canada Infrastructure Bank, a $35-billion initiative to attract private investment in new infrastructure projects. He pointed to the country’s robust capital markets and large institutional investors, as well as strong promise in high-tech and clean-energy sectors.

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