New equity funding soon available for Indigenous ownership stake in infrastructure projects – Windspeaker.com
May 1st, 2023
“Equity is that risk capital and so many communities don’t have access to capital.” — Hillary Thatcher of the Canada Infrastructure Bank
A recent change to the mandate of the Canada Infrastructure Bank (CIB) has opened a new avenue for Indigenous communities to get loans for equity buy-in on larger infrastructure investments.
“When we’re talking about linear infrastructure projects in our country—transmission lines, transit systems, projects that cut across land—they’re almost always going through traditional territories, and Indigenous communities have said really clearly, ‘We want a seat at the ownership table in these projects,’” said Ehren Cory, CEO for the bank.
With changes brought about in the 2023/24 federal budget, CIB, a Crown corporation, now has the ability to lend that money to Indigenous investors for equity stake.
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