CaGBC responds to the Government’s Canada Infrastructure Bank Announcement
On October 1st, Prime Minister, Justin Trudeau, announced a $10 billion investment in new major infrastructure initiatives to create jobs and economic growth.
According to a release by the Prime Minister?s Office, the Canada Infrastructure Bank’s (CIB) Growth Plan is a three-year plan that will connect more households and small businesses to high-speed Internet, strengthen Canadian agriculture, and help build a low-carbon economy.
The Growth Plan will invest in five major initiatives:
$2.5 billion for clean power to support renewable generation and storage and to transmit clean electricity between provinces, territories, and regions, including to northern and Indigenous communities.
$2 billion to connect approximately 750,000 homes and small businesses to broadband in underserved communities, so Canadians can better participate in the digital economy. $2 billion to invest in large-scale building retrofits to increase energy efficiency and help make communities more sustainable.
$1.5 billion for agriculture irrigation projects to help the agriculture sector enhance production, strengthen Canada’s food security, and expand export opportunities.
$1.5 billion to accelerate the adoption of zero-emission buses and charging infrastructure so Canadians can have cleaner commutes.
To accelerate the delivery of projects in which the CIB intends to invest, it will also allocate $500 million for project development and early construction works.
In response to th...
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