Indigenous Equity Initiative (IEI)

Program Category: Clean Energy, Sustainable Transportation, Community Infrastructure

Program Sub-Category: Energy Efficiency (Housing / Buildings), Renewable Energy, Economic Development, Zero Emission Vehicles and Charging Stations

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Status: Open

Funder

Canada Infrastructure Bank (CIB)

Funder Organization Type

Federal Government
Financial Institution

The Indigenous Equity Initiative (“IEI”) will enable Indigenous ownership of infrastructure projects in CIB’s priority sectors: green infrastructure, clean power, broadband, public transit and trade and transportation. The goal of this program is to align Indigenous stakeholder interests on their traditional territories, accelerating development and timelines, addressing financing gaps, and enabling Indigenous economic participation. The CIB Initiative will generate more investments in projects that are vital to economic growth and environmental protection with Indigenous communities across Canada. First Nations, Inuit, and Métis communities will have the opportunity to partner with the CIB to make innovative investments in projects to help address the infrastructure gap in Indigenous communities.

The projects enabled by CIB investments have the potential to provide more low-carbon energy supply and enhanced energy security, reduce greenhouse gases, improve broadband connectivity, more clean and accessible water, as well as create jobs and local economic development.

As part of the IEI, the CIB will tailor its innovative, low-interest and long-term financing to provide equity loans of at least $5 million for up to 90% of total Indigenous equity in projects that the CIB is already investing in. Community-based revenue-generating projects can be from any of the CIB’s priority sectors: green infrastructure, clean power, broadband, public transit and trade and transportation.

Project Category: Clean Power

Development of renewable energy-powered microgrids.
Development of solar, wind, small-scale hydro, tidal, biomass, and geothermal infrastructure.
District energy systems.
Transmission installation and upgrades to improve access and reliability of access to electricity.

Project Category: Green Infrastructure

Investments that transition communities off diesel generators to renewable energy sources and lower carbon intensive sources of generation.
Investment in retrofits of buildings to make them more energy efficient.
Investments that provide a long-term, reliable source of clean drinking water.
Improvement of environmental performance of water and wastewater management systems.

Project Category: Trade & Transport and Public Transit

Development of transportation infrastructure for remote or rural communities including roads, bridges, rail, airports, regional bus systems, etc.
Irrigation infrastructure for agricultural communities. Project Category: Broadband
Development of communications infrastructure to provide high-speed internet access for remote or rural communities.

Eligible Community

First Nations, Inuit, and Métis communities, their economic development companies and partners.

Required Community Contribution

Community contribution required (please see program website)

At least 10% of total Indigenous equity must be funded from the Indigenous Partner.

Funding Stacking Restrictions

Application Limit per Community

Professional Input Required

Yes

The CIB has an extensive due diligence process which requires legal advisors and may require financial advisors. It is expected that the project will have significant design completed.

Other Eligible Applicants

Businesses / For-profit
Indigenous Organizations
Non-governmental Organizations / Not-for-Profits
Economic Development Agencies

Type of Funding

Loan

Range of Funding Available per Project

Over $1 000 000

Description of Funding

Minimum $5 million and up to $100 million; up to 90% of Indigenous equity contribution.

Percentage of Project Funded

90%

Up to 90% of Indigenous equity contribution

Eligible Costs

Engineering
Design
Operational and Maintenance Costs
Capital Costs
Equipment/Material Purchase
Project Management
Staff Costs

All costs related to the Project Special Purpose Vehicle (SPV). operations and maintenance is only after the greenfield project is built.

Reporting Requirements

Progress reports and final reports

Expected Timeframe for Funding Decision

6 months

At least six months.

One application per project; there is no limit on applications/projects submitted, however.