Infrastructure bank could help build Indigenous projects, chairwoman says
OTTAWA — The chairwoman of a new federal agency that will help finance the construction of new highways, transit systems and electricity grids says it could also help fund multiple, smaller projects that are badly needed across Indigenous communities.
The needs in some Indigenous communities are many: hydro, clean water, safe housing and broadband internet, to name a few.
On First Nations reserves alone, the infrastructure gap — the amount that it would cost to replace and repair crumbling roads, homes, bridges and pipes — is estimated to be as much as $40 billion. The Liberals are turning to the private sector for help. Earlier this month, Indigenous Services Minister Jane Philpott challenged private companies to work with Indigenous communities to design, cost and transfer some of the financial risk of projects.
Janice Fukakusa, chair of the Liberal’s new infrastructure bank, said the agency could help further by taking a concept or project on one reserve, or one community and rolling it out over a number of communities to build interest from institutional investors.