The California Pooled Money Investment Board last week eased a freeze on lending for infrastructure projects across the state.

The PMIB invests $60 billion-plus of cash on behalf of local governments and state agencies via the California Pooled Money Investment Account. The account typically provides bond anticipation loans for infrastructure projects, which are paid back with interest when long-term bonds are issued.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.