Canada Infrastructure Bank partners with First Nations Bank to finance projects

The Canada Infrastructure Bank has signed a $100-million deal with the First Nations Bank of Canada to help Indigenous communities borrow money to build infrastructure.

FNBC chief executive Bill Lomax said the new program will make infrastructure projects in Indigenous nations and communities more affordable.

Lomax said by partnering with the CIB, the FNBC can use its expertise in working with Indigenous communities and support new projects in a way it has not seen before. 

Under the plan, Indigenous communities can apply for loans to finance enabling infrastructure, with the process  managed entirely by the FNBC.

The program will help provide financing for infrastructure development to support improved living conditions, economic opportunities and housing.

Projects could include such things as roads, water treatment facilities and utility connections.