Today, Ehren Cory, CEO of the Canada Infrastructure Bank (CIB), announced the launch of a $1 billion Indigenous Community Infrastructure Initiative (ICII). This is intended to enable Indigenous communities to have meaningful equity in projects that will have tangible infrastructure benefits to those communities. This might include helping to reduce or eliminate reliance on diesel generation, water and wastewater infrastructure, broadband, all seasons roads, airports, etc.
Funds will be delivered by the CIB to First Nations, Inuit and Métis communities for community-based revenue-generating projects that help address the infrastructure gap in Indigenous communities.
The investments should have an ongoing revenue stream, and be made in tranches between $5M-50M. A simplified term sheet is available for low interest loans on reasonable rates up to 80% of capex. The remaining 20% capex can include Indigenous community capital and/or other industry sponsor investment.
Project applications will be accepted on a rolling basis, starting today. For more information visit the ICII website.
Your Sussex team is on hand to assist with project development, applications, partnership discussions or any other engagement that would be helpful.
