The federal government has directed the Canada Infrastructure Bank to invest at least $1-billion in revenue-generating projects that benefit Indigenous peoples as part of a new statement of priorities for the Crown corporation.

In a Feb. 3 letter to Tamara Vrooman, the newly appointed chairperson of the bank, Infrastructure Minister Catherine McKenna said there is an urgent need to address the infrastructure deficit in Indigenous communities and support the government’s commitment to advance reconciliation with those communities.

“As the CIB identifies investment opportunities in the public interest, I understand that will include infrastructure projects made in partnership with, and that benefit, Indigenous Peoples,” Ms. McKenna wrote. “The CIB should establish a new investment target of $1-billion for Indigenous Infrastructure projects across the five priority areas.”

The $1-billion amount is to be found within the government’s broader goals for the bank, which include pledges of $5-billion each for public transit, green infrastructure, transport and clean power and $3-billion for rural broadband expansion.

In September the government also announced that the bank will allocate $10-billion over the next three years primarily for environmental-protection initiatives such as electric buses and building retrofits.

The CIB was created by legislation in 2017 with a mandate to attract private-sector investors, such as pension funds, to participate in Canadian infrastructure projects.

Only about $4-billion of its $35-billion initial budget has been allocated to date.

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