CIB — FNBC CEO Bill Lomax and CIB CEO Ehren Cory announce a $100 million loan participation agreement for First Nations, Métis and Inuit community infrastructure.
Enabling infrastructure can include site work, roadwork, water and wastewater management and utility connections, and is needed to support economic and community growth through residential, commercial or industrial developments, a CIB release said. Indigenous communities’ limited access to affordable capital at flexible terms can constrain, impede or stop the achievement of community development projects, the release said. They will now have access to affordable and flexible financing to unlock enabling infrastructure development that can support improved living conditions, new economic opportunities and housing.