California Infrastructure and Economic Development Bank Announces Cindy Mendonza as Chief Deputy Executive Director and Chief Operating Officer
SACRAMENTO (March 19, 2026) — The California Infrastructure and Economic Development Bank (IBank) today announced that Cindy Mendonza has been appointed Chief Deputy Director and Chief Operating Officer. Mendonza was appointed by Governor Gavin Newsom and will help lead IBank’s mission to support infrastructure development and economic growth across California.
Mendonza brings extensive experience in state government, fiscal management, and legislative affairs. She most recently served as Deputy Director of Fiscal Services at the California Department of Corrections and Rehabilitation (CDCR). Prior to that, she held several leadership roles at CDCR, including Chief of Legislative Affairs.
Her career also includes significant experience at the California Department of Finance, where she served in multiple budget and fiscal analysis roles, including Principal Program Budget Analyst. In addition, Mendonza held leadership positions at the California Prison Industry Authority, overseeing marketing, regulatory compliance, budgeting, and financial planning.
Mendonza holds a Master of Business Administration from California State University, San Jose; a Master of Science in Psychology from California State University, Stanislaus; and a Bachelor of Arts in Psychology from Saint Mary’s College of California.
“We are thrilled to welcome Cindy to IBank,” said Andy Nakahata, IBank Executive Director and Chief Executive Officer. “Her breadth and depth of experience make her uniquely qualified to help lead our organization. Cindy brings not only the expertise we need, but also the collaborative spirit and leadership that align perfectly with IBank’s culture. I am excited to have her join our team as we continue advancing critical infrastructure projects and creating jobs throughout California.”
As Chief Deputy Director and Chief Operating Officer, Mendonza will oversee IBank’s day-to-day operations and support strategic initiatives that expand financing opportunities for public infrastructure and economic development projects statewide.
“I am honored to join IBank at a time when community infrastructure development and small business support are more important than ever,” said Mendonza. “I am excited to work alongside dedicated staff and partners to facilitate these opportunities and strengthen our California communities.”
A start date will be announced following the completion of her transition from CDCR.
About the 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 for Californians and communities throughout the state. IBank is located within the Governor’s Office of Business and Economic Development and is governed by a five-member board of directors.
IBank issues tax-exempt and taxable revenue bonds, provides financing to public agencies, provides credit enhancements, acquires and leases facilities, leverages state and federal funds, and provides loan guarantees and other credit enhancements for small businesses. Visit us at ibank.ca.gov.
Karen C. Naungayan
Deputy Director of External Affairs
Office: 916.447.8474
Mobile: 916.207.9132
