Investment enables water, electricity, and broadband connections for community growth, housing and commercial space The Canada Infrastructure Bank (CIB) and Netmizaaggamig Nishnaabeg (formerly Pic Mobert First Nation) have finalized their agreement for the CIB to lend $7.9 million towards critical infrastructure required for commercial and residential development that will improve living standards on reserve.
Canada Infrastructure Bank invests in new shíshálh Nation Government District-owned wastewater treatment plant
The Canada Infrastructure Bank (CIB) and the shíshálh Nation Government District (sNGD) announced financial close on an agreement, which will see the CIB lend $6.4 million to support a new Port Stalashen Wastewater Treatment Plant through its Indigenous Community Infrastructure Initiative. The plant will be located on shíshálh Nation lands near Sechelt, B.C., and will play a role in enabling economic growth, protecting the coastal environment, and safeguarding public health through improving the outfall. The investment will serve the shíshálh Nation, which represents a population of more than 1,500 members, and lessees on shíshálh Nation Lands (Tsawcome) No. 1.
Liberals allowing private corporations to make money off Canadians' critical water infrastructure
NDP Infrastructure and Communities Critic Bonita Zarrillo made the following statement: “Last week, Press Progress exposed how the Canada Infrastructure Bank (CIB) plans to privatize water infrastructure across the country. In leaked notes from a CIB board meeting in April 2021, CEO Ehren Cory eagerly proposed letting 'private sector financing' overhaul the provision of water 'assets' – because water has a stable base of 'customers who pay.'
Opinion: It’s time for the Canada Infrastructure Bank to reclaim its public purpose
The Canada Infrastructure Bank (CIB), a federal government financial institution, opened its doors five years ago with great promise, vowing to deploy $35 billion of investments towards “the next generation of infrastructure Canadians need.” But rather than investing public money in public services, the CIB has instead privatized our water, transportation and electricity. For every dollar invested by the CIB, the hope was that $4 to $5 would be invested by the private sector.
Indigenous communities should dictate how $1 billion infrastructure investment is spent
We finally have a chance to get it right. For the first time in history, Canada has launched a $1 billion investment dedicated to First Nations, Métis and Inuit infrastructure. The Canada Infrastructure Bank (CIB) is establishing the Indigenous Community Infrastructure Initiative (ICII), which will enable the building of new infrastructure projects in Indigenous communities and help generate investments in projects that are vital to economic growth and environmental protection. For decades, the promise of investments and dedicated funding have fallen flat. Limited to what the federal government can fund within their restrictive policies and confined by an infrastructure funding process that is flawed, sluggish and heavy regulated. Resulting in lackluster infrastructure projects that limit Indigenous autonomy and self-determination.