Kelowna mayor named chair of Municipal Finance Authority

Kelowna Mayor Tom Dyas is adding another role to his portfolio.

Dyas has been elected chair of the Municipal Finance Authority of British Columbia, taking on a leadership role with the organization that helps fund public infrastructure across the province.

The Municipal Finance Authority of British Columbia is a co-operative that provides borrowing and investment services to local governments, regional districts, and other public-sector organizations. It is owned and governed by B.C.’s local governments and plays a key role in helping communities access lower-cost financing for infrastructure projects.

The authority currently manages more than $11 billion in assets and supports municipalities and public agencies with long-term financial planning and investment services. It is also independently governed and maintains top-tier credit ratings from major rating agencies.