Infrastructure Bank, First Nations Bank join forces to support smaller scale Indigenous development

By Shari Narine  Local Journalism Initiative Reporter Indigenous communities looking to advance infrastructure projects now have access to a new pool of money. The Canada Infrastructure Bank (CIB) has provided the First Nations Bank of Canada (FNBC) with $100 million to offer as capital for smaller infrastructure projects. FNBC will be matching that amount. The money will be loaned to First Nations Bank’s clients at a low interest rate as it blends FNBC’s competitive market rate with CIB’s low-cost financing. The partnership, says CIB CEO Ehren Cory, allows CIB to be involved in projects that aren’t the bank’s usual billion-dollar infrastructure dealings. “FNBC has reached to communities big and small, First Nations communities, Metis and **>Inuit<** communities across the country in a way that we don’t,” said Cory. “They have…

This content is for Yearly Subscription, Yearly Subscription – Corporate, Print Subscription Only, and Canada Print and Online members only.
Register
Already a member? Log in here

Add Your Voice

Is there more to this story? We'd like to hear from you about this or any other stories you think we should know about. Contribute your voice on our contribute page.