We have a target to invest $1 billion in Indigenous infrastructure projects across our five priority sectors, as outlined in the Statement of Priorities and Accountabilities.
Our emphasis is on collaboration to deliver new infrastructure in partnership with Indigenous communities. Our financing is an additional tool for Indigenous communities to use in combination with public funding and private and institutional investment for their infrastructure priorities.
Many Indigenous communities have expressed an interest in working with our team to further advance infrastructure projects on their traditional territories and in their communities. This collaboration is a significant opportunity, and we’ve expanded our Advisory and Investment teams to include the necessary expertise to advance reconciliation with First Nation, Métis and Inuit partners.
Our Investment team is already active in projects that include Indigenous partners, including Tshiuetin Railway, Oneida Energy Storage and Kivalliq Hydro-Fibre Link.
The Indigenous Community Infrastructure Initiative (ICII) aims to be a part of addressing the infrastructure gap in Indigenous communities, contributing to our mandate to target at least $1 billion investment for Indigenous infrastructure.
Through the ICII, we can provide low-cost and long-term debt to Indigenous community-based projects across five priority areas: clean power, green infrastructure, public transit, broadband, and trade and transportation.
Through the ICII, our investment team will be 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 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 an investment of at least $5 million and not more than 80% of total project cost;
- have a robust construction and operations risk mitigation strategy; and
- be new or represent significant upgrades to existing infrastructure.