The Canada Infrastructure Bank (CIB) is expanding its retrofit initiative and earmarking $100 million towards building upgrades by owners who want to improve the environmental footprints of their small and medium-sized buildings. Bank of Montreal (BMO) is the first to partner with the CIB on this initiative.

BMO is identifying commercial property owner clients who are motivated to undertake energy efficiency retrofits. BMO will market, originate, underwrite, and administer the loans. BMO will discount or waive administrative fees associated with the refinancing of retrofit debt for projects that cut emissions by at least 50 percent.

This is the CIB’s fourth investment under its retrofit aggregator model.