The Canada Infrastructure Bank (CIB) announced a significant partnership with the First Nations Bank of Canada (FNBC) through a $100 million loan participation agreement. This strategic move aims to enhance infrastructure development in First Nations, Métis, and Inuit communities, offering them access to affordable and flexible financing options. Such financial support is crucial for initiating projects that improve living conditions, spur economic opportunities, and facilitate housing development. Historically, Indigenous communities have faced challenges in accessing capital with favorable terms, often hindering their development efforts. The initiative focuses on enabling infrastructure, including essential services like site works, roadworks, water and wastewater management, and utility connections, pivotal for fostering economic and community growth across residential, commercial, or industrial sectors.

FNBC, marking its stature as Canada's leading Indigenous-owned and operated financial institution, will complement the CIB's commitment by providing concurrent project lending. This collaborative financing package is designed to expedite the realization of community and economic development plans within Indigenous territories. Notably, FNBC prides itself on a workforce comprising over 70% Indigenous employees and serving a clientele majorly made up of Indigenous clients (90%). The bank extends its services across urban, remote, and Arctic regions of Canada.

This initiative is part of the CIB's Indigenous Community Infrastructure Initiative, aimed at partnering with Indigenous communities to support infrastructure projects that benefit them directly. Indigenous communities seeking to leverage this financing opportunity for community development can find more information on the FNBC website.