Vancouver Island First Nations Secure $66.7 Million for Housing and Infrastructure – Startup Ecosystem Canada
The Malahat Nation and Cowichan Tribes on Vancouver Island have secured a combined $66.7 million in loans from the Canada Infrastructure Bank (CIB) to support on-reserve housing, infrastructure upgrades, and community-led economic development. The funding is part of the CIB’s Indigenous Community Infrastructure Initiative, which aims to enhance housing and business development opportunities. Malahat Nation will receive a $57.8-million loan to replace an old water treatment plant and build a new wastewater treatment plant, facilitating the development of a new multi-residential project and a battery plant. Cowichan Tribes will benefit from an $8.9-million loan to their economic arm, the Khowutzun Development Corporation, to support the 200-unit Rivers Edge housing development. This initiative will also bring new infrastructure, including site preparation, utility upgrades, and electric vehicle charging stations, creating substantial career and training opportunities for Indigenous communities.
