Project Name: Alberta Irrigation
Partner: Government of Alberta
Location: Southern Alberta
Sector: Trade and Transportation
Participation: $407.5 million (financial close)
Description: The two phase project involves construction of modern irrigation infrastructure and significantly expanding irrigable land opportunities within eight irrigation districts. Phase one includes the construction, financing, operation and maintenance of new water pipelines. The primary objectives are to improve the efficient delivery of water, increase irrigation opportunities and to reduce water loss.
Phase one work is expected to result in approximately 56,100 new irrigated acres.
Phase two includes new and expanded off-stream reservoirs and is expected to result in approximately 143,800 new irrigated acres. The primary objectives are to enhance water security and supply within the South Saskatchewan River Basin and allow for an earlier start to the irrigation season.
Modernizing irrigation infrastructure can increase primary crop production, water storage capacity and security while helping to mitigate the impacts of climate change. The project will also support long-term food processing businesses.
Benefits of the CIB Involvement
Agriculture sector growth can face obstacles in attracting long-term private capital to finance large projects due to the generally uncertain nature of revenues. The CIB is using an innovative financing approach to invest in projects which face these challenges.
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