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…

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