About UsThe California Infrastructure and Economic Development Bank (IBank) was created in 1994 to finance public infrastructure and private development that promote a healthy climate for jobs, contribute to a strong economy and improve the quality of life in California communities. IBank operates pursuant to the Bergeson-Peace Infrastructure and Economic Development Bank Act contained in the California Government Code Sections 63000 et seq. IBank is located within the Governor's Office of Business and Economic Development and is governed by a five-member Board of Directors.
IBank has broad authority to issue tax-exempt and taxable revenue bonds, provide financing to public agencies, provide credit enhancements, acquire or lease facilities, and leverage State and Federal funds. IBank's current programs include the Statewide Energy Efficiency Program (SWEEP), 501(c)(3) Revenue Bond Program, Industrial Development Revenue Bond Program, Exempt Facility Revenue Bond Program, Governmental Bond Program and the Small Business Loan Guarantee Program.
Introducing the Clean Energy Finance Center
IBank is pleased to announce the introduction of its Clean Energy Finance Center (CEFC). Approved by the Board of Directors on September 23, 2014, IBank has established the CEFC which will encourage concerted public and private investments and utilize IBank's access to capital markets for selected clean energy and energy efficiency projects. The IBank CEFC will help to drive energy related projects for State and local governments in the State of California by creating a scalable program, referred to as the Statewide Energy Efficiency Program (SWEEP) to operate under the CEFC.
The delivery of the CEFC resulted from IBank's numerous discussions and engagements with environmental leaders, State agencies, legislators, financial advisers, investors, underwriters, universities and other stakeholders regarding capital-raising and investment vehicles for infrastructure and economic development projects with significant benefits for protecting the environment, conserving natural resources and reversing climate change. Read more...
Latest News & Announcements
The next IBank Board meeting will be held on Tuesday, March 24, 2015, at 2:00 p.m in the Department of Food and Agriculture Auditorium located at 1220 N Street Sacramento, CA 95814. Board Meeting are open to the public.
BREAKING NEWS - U.S. Treasury: California Allocates More Federal Small Business Funding Than Any Other State. IBank Executive Director, Teveia Barnes, recently announced that California has allocated more federal small business funds through the U.S. Treasury' State Small Business Credit Initiative (SSBCI) than any other state in the U.S. Read more...
IBank has revised its Criteria, Priorities and Guidelines for loans made under its Infrastructure State Revolving Fund Program (“ISRF Program”). The revised version of the ISRF Program Criteria, Priorities and Guidelines (“ISRF Criteria”) can be obtained by clicking here. And the interest rate setting methodology can be accessed here.
Locate IBank funded projects by category, borrower or geographic location throughout the State with our searchable project mapping tool. Click here!