National Infrastructure Bank Growth Support

Country / jurisdiction: Canada · Year: 2020 · Status: In force · Level: National · Type: Voluntary

Canada's Infrastructure Bank will implement a CAD 10 billion investment plan in major infrastructure initiatives to create jobs and strengthen economic growth. The Growth Plan, which will develop over the next 24 to 36 months, is expected to create 60 000 jobs, with a special focus on low-carbon economy.

- CAD 2.5 billion will be allocated to develop clean power generation, transmission, and storage over the next three years, with a medium term projection to spend  CAD 5 million.

- CAD 1.5 billion will be allocated for zero-emission buses. To overcome the financial barriers affecting this sector, the CIB will focus on providing adequate capital to transit authorities, municipalities, and school bus operators. 5000 zero-emission buses are expected within the next five years;

- CAD 2 billion for energy efficient buildings retrofits, working with large private and public sector real estate owners to modernise buildings. Energy to heat and cool buildings accounts for about 12% of Canada's GHG emissions.

- CAD 500 million will be allocated to project acceleration (e.g. Algoma Steel's action plan)

Official source: https://cib-bic.ca/wp-content/uploads/2020/10/Canada-Infrastructure-Banks-Growth-Plan-Backgrounder-1.pdf