Canada Infrastructure Bank launches Infrastructure for Housing Initiative – Renew Canada
Mar 28, 2024
The Canada Infrastructure Bank (CIB) introduced its Infrastructure for Housing Initiative (IHI), designed to help address the infrastructure constraints which are limiting new housing construction.
The CIB has developed a financing tool for municipalities and Indigenous communities which are committed to building new infrastructure in support of new housing supply. Industry and municipal stakeholders have emphasized that more municipal infrastructure investment is a prerequisite to building more housing. The CIB’s new lending product is designed to unlock new housing in a very targeted and specific way.
“Through our new lending initiative, we are committed to working with municipalities to unlock new housing developments. The housing challenge in Canada requires innovative thinking, new partnerships and a variety of financing supports to make progress. We are pleased to have already advanced financing to a number of projects which will spur new housing such as district energy expansion, transit lines, broadband networks and water treatment facilities,” said Ehren Cory, CEO, Canada Infrastructure Bank.
