The CIB is already active in projects that include Indigenous partners, including Oneida Energy Storage and Kivalliq Hydro-Fibre Link. This is just a start to our work with Indigenous communities to improve infrastructure.
The CIB has a target to invest $1B in Indigenous infrastructure projects across its five priority sectors, as outlined in its Statement of Priorities and Accountabilities.
There is a significant infrastructure gap facing Indigenous communities across Canada, and the CIB is working with First Nation, Métis and Inuit communities to explore opportunities for collaboration on projects.
Our emphasis will be on collaborating to facilitate and promote new infrastructure in partnership with Indigenous communities. The CIB is an additional tool for Indigenous communities to combine public funding with private and institutional investment for their infrastructure priorities.
Many Indigenous communities have expressed an interest in working with the CIB to further advance infrastructure projects on their traditional territories and in their communities. This collaboration is a significant opportunity, and the CIB has expanded its Advisory and Investment team to include the necessary expertise to advance reconciliation with First Nation, Métis and Inuit partners while investing in much needed infrastructure projects that are aligned with the CIB’s purpose and functions.
Indigenous Community Infrastructure Initiative
The Indigenous Community Infrastructure Initiative (ICII) aims to be a part of addressing the infrastructure gap in Indigenous communities, contributing to the CIB’s mandate to target at least $1.0 billion investment for Indigenous infrastructure.
The ICII can provide low-cost and long-term debt to Indigenous community-based projects across the CIB’s five priority areas: Clean Power, Green Infrastructure, Public Transit, Broadband, and Trade & Transportation.
Contact us for any questions about Indigenous infrastructure investments at the CIB.
Through the ICII, the CIB is looking to invest in community-based projects that provide a service and a direct benefit to an Indigenous community or communities to help to close the infrastructure gap. These projects also must:
- Generate revenue, but can also be supported by other community revenues;
- Include Indigenous community capital and/or other industry sponsor investment of at least 20%;
- Represent a CIB investment of at least $5 million and not more than 80% of total project cost;
- Have a robust construction and operations risk mitigation strategy;
- Be new or represent significant upgrades to existing infrastructure; and
- Fall within at least one of the Eligible Project Categories below.
Eligible project categories include:
- Development of renewable energy-powered microgrids.
- Development of solar, wind, small-scale hydro, tidal, biomass, and geothermal infrastructure.
- District energy systems.
- Transmission installation and upgrades to improve access and reliability of access to electricity.
- Investments that transition communities off diesel generators to renewable energy sources and lower carbon intensive sources of generation.
- Investment in retrofits of buildings to make them more energy efficient.
- Investments that provide a long-term, reliable source of clean drinking water.
- Improvement of environmental performance of water and wastewater management systems.
Trade & Transport and Public Transit
- Development of transportation infrastructure for remote or rural communities including roads, bridges, rail, airports, regional bus systems, etc.
- Irrigation infrastructure for agricultural communities.
- Development of communications infrastructure to provide high-speed internet access for remote or rural communities.
How to participate
The CIB will accept applications to the Indigenous Community Infrastructure Initiative on a rolling basis. The investment process is summarized below.
- Applicant completes the CIB Application Form and submits the completed form to firstname.lastname@example.org.
2. Early Engagement
- The CIB reviews the application form, meeting with the Applicant, and making any clarifications, as necessary.
- The CIB and the Applicant enter a Non-Disclosure Agreement (NDA) to begin sharing project information.
- Early due diligence is conducted to confirm that the project is expected to meet eligibility criteria.
4. Formal Engagement
- CIB presents an ICII Standard Term Sheet to the Applicant.
- The Applicant signs back the ICII Standard Term Sheet.
5. Investment Structuring and Commitment
- CIB conducts a detailed assessment and financial structuring.
- An investment recommendation is made to the CIB Board or Management Investment Committee for approval.
6. Final Negotiation and Closing
- Following approval, the CIB finalizes the investment with the project counterparty.
- Closing occurs when all conditions have been met.
7. Funding, Monitoring and Exit
- Investment funding occurs over the course of the project.
- The counterparty provides the CIB with project impact and outcomes data.
- CIB tracks the investment, monitors risks, and reports regularly.
Learn about our Advisory function.