Budget 2023 announced that the CIB will invest at least $10 billion of its $35 billion in capital in its Green Infrastructure priority sector, doubling the previous target of $5 billion in this sector. The CIB’s mandate within the Green Infrastructure priority sector to invest in infrastructure projects that deliver clean and safe water systems, was initially communicated by the Minister in the Statement of Priorities and Accountabilities (SPA) letter in December 2017. The SPA letter also encouraged the CIB to consider whether and how it may support investments in smaller projects, or bundling of projects that may not individually have scale to attract investors, such as bundles of municipal projects.
Many communities have identified an infrastructure deficit related to their water and wastewater systems. Since December 2017, the CIB has been working with municipalities and municipal leaders to develop innovative approaches to crowd-in investment from the private sector to upgrade water and wastewater infrastructure with the aim of reducing the national infrastructure gap, improving quality standards, improving asset sustainability, and supporting growth.
Eligible projects include, but are not limited to, the construction of and upgrades to:
- Water treatment plants;
- Wastewater treatment plants;
- Water distribution and collection infrastructure; or
- Stormwater systems.
