CIB unveils Indigenous project funding scheme

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CIB unveils Indigenous project funding scheme – Construct Connect

by ahnationtalk on November 30, 202388 Views

November 30, 2023

CIB — The Canada Infrastructure Bank’s new Indigenous Equity Initiative is intended to spur a new set of projects involving Indigenous leadership. Its existing roster includes the Atlin Hydroelectric project in Yukon and British Columbia, which has participation from the Taku River Tlingit First Nation.

Look for significant new Indigenous-linked projects to be greenlit now that the Canada Infrastructure Bank (CIB) has unveiled its new Indigenous Equity Initiative.

Hillary Thatcher, the CIB’s managing director for investments, says the program represents a major step forward in enabling Indigenous communities to obtain equity partnerships in new projects across the country, particularly, she expects, in such sectors as clean energy generation, battery storage, energy transmission, infrastructure to support mining development and the transportation sector.

“I think it is going to be quite a breakthrough,” said Thatcher on Nov. 27, the day the CIB tabled the initiative. “We’ve been asked to make loans to them, but we haven’t been able to do that until now that we have an initiative that’s been approved by the federal government.”