On March 6, 2024, the Canada Infrastructure Bank (CIB) announced a groundbreaking $100-million loan participation agreement with the First Nations Bank of Canada (FNBC), marking a significant move forward in facilitating infrastructure development within Indigenous communities.

This partnership will provide affordable and flexible financing solutions tailored to unlock crucial infrastructure projects in First Nations, Métis and Inuit communities. Enabling infrastructure such as site works, roadworks and utility connections will support enhanced living conditions, economic opportunities and housing initiatives.

FNBC, Canada's largest Indigenous-owned financial institution, will offer concurrent project lending alongside the CIB, ensuring a comprehensive financing package that accelerates community development plans.

Gowling WLG was counsel to the CIB with respect of its collaboration with FNBC to create the loan product with a team comprised of Myron Dzulynsky, Elizabeth Burton, Lilly Wong, Keith Brown and Reagan Chornoboy.

“We are both honoured and proud to be a part of this groundbreaking collaboration between the Canada Infrastructure Bank and the First Nations Bank of Canada,” said Gowling WLG partner Myron Dzulynsky. “We hope that this partnership will assist Indigenous communities in addressing the serious infrastructure deficit in their communities.”

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