The Federal Budget for 2024/2025 was approved on June 20th, and the funding is already starting to roll out. This marks a critical time for First Nation communities to begin their government relations engagement for new capital requests. Below, we explore the significant infrastructure funding opportunities available through Indigenous Services Canada and the Canada Infrastructure Bank (CIB).
Indigenous Services Canada Funding Opportunities
1. Indigenous Community Infrastructure Fund (ICIF)
The ICIF provides capital funding for essential community infrastructure projects. Although the call for proposals for the Urban Component of the 2024-2025 cycle has closed, this fund remains a vital resource for future infrastructure projects.
2. Housing and Infrastructure
The budget allocates $918 million over five years to address housing and infrastructure needs in Indigenous communities, with $426 million specifically designated for First Nations on-reserve. This funding aims to tackle the housing crisis and improve living conditions.
3. Health and Social Services Infrastructure
Since 2016, over $710 million has been invested in 286 health-related infrastructure projects. For 2024-2025, continued investments are expected to enhance health outcomes through upgraded facilities and expanded services, ensuring better healthcare for Indigenous communities.
4. Policing Facilities
A total of $200 million over five years is earmarked to repair, renovate, and replace policing facilities in First Nations and Inuit communities, significantly enhancing community safety and security.
5. Education Infrastructure
The budget includes $545.1 million over three years for K-12 education infrastructure on reserves. This funding aims to improve educational facilities and outcomes for Indigenous students, providing them with better learning environments.
6. Economic Development and Land Management
Up to $5 billion in loan guarantees is available to support Indigenous economic participation in natural resource and energy projects. Additionally, $65 million over five years is allocated for a First Nations-led land registry to support land and resource management.
These funding opportunities reflect the federal government’s ongoing commitment to support Indigenous communities through targeted investments in critical infrastructure projects. It is essential for First Nation communities to stay updated with the calls for proposals issued by Indigenous Services Canada to take full advantage of these opportunities.
Canada Infrastructure Bank (CIB) Funding Opportunities
Indigenous Community Infrastructure Initiative (ICII)
The ICII offers low-cost, long-term loans for infrastructure projects that directly benefit Indigenous communities. Key criteria include:
- Projects must fall within one of CIB’s priority sectors: clean power, green infrastructure, public transit, broadband, and trade and transportation.
- They should provide a direct benefit to an Indigenous community by closing an infrastructure gap or enabling economic participation.
- Projects must generate revenue or be supported by other community revenues.
- Indigenous community capital and/or other industry sponsor investments should account for at least 20% of the project capital cost.
- Investments should range from $5 million to $100 million, covering no more than 80% of the project cost net of grants.
Indigenous Equity Initiative (IEI)
The IEI supports Indigenous communities in purchasing equity stakes in infrastructure projects where the CIB is also investing. This initiative aims to:
- Provide equity loans ranging between $5 million and $100 million, covering up to 90% of the Indigenous equity interest.
- Enable Indigenous participation in projects across the CIB’s priority sectors, fostering economic inclusion and long-term benefits.
- Fill the market gap by providing access to capital typically unavailable to Indigenous communities through conventional lenders.
These initiatives demonstrate the CIB’s commitment to investing at least $1 billion in Indigenous infrastructure projects, supporting economic reconciliation, and closing the infrastructure gap in Indigenous communities across Canada. For more details, you can visit the Canada Infrastructure Bank’s official website.
CCSProjects is Here to Help!
Unlock the potential for your community with over $6 billion in infrastructure funding now available for capital projects! Book a chat with one of our consultants, we specialize in helping communities navigate the complexities of securing these vital funds.
Visit CCSProjects to understand how our team has assisted other First Nation communities and organizations in their funding journey.
Our experienced consultants are ready to guide you through every step of the process. Don’t miss out on this incredible chance to drive more projects in your community today!