No; the CIB loan is project risk (non-recourse). If CIB cannot be repaid because of delays, cost overruns, operating cost increases or ridership revenue shortfalls. The government of Alberta’s only responsibility is to make any annual performance payments agreed (less any surplus ridership revenues) only if the train is operational and services are being delivered to the agreed standard. At the end of 50 years, the Government of Alberta will own CABR and if the project defaults and ceases operations then the Government of Alberta will have the right to take over the project.
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