Canada Infrastructure Bank Announces up to $20 Million Investment Commitment in Mapleton Water and Wastewater Project
Canada Infrastructure Bank News Release
July 15, 2019
Canada Infrastructure Bank (CIB) announced today an investment commitment of up to $20 million in the Township of Mapleton’s water and wastewater project. The Township is seeking a consortium to design, build, finance, operate and maintain the municipality’s new and existing water and wastewater infrastructure for up to 20 years. Mapleton will continue to own all existing and new infrastructure assets.
Canada Infrastructure Bank Act
Justice Laws Website
June 22, 2017
18 In particular, the Bank may
(a) make investments in any person, including by way of equity investment in, or by making a loan to or acquiring a derivative from, the person;
19 (1) The Bank may provide loan guarantees only in accordance with this section.
(2) The Bank may recommend to the designated Minister that the Minister of Finance approve a loan guarantee with respect to an infrastructure project. If the designated Minister concurs with the recommendation, he or she is to recommend to the Minister of Finance that the Minister of Finance approve the loan guarantee.
The bank was created on June 22, 2017. It has yet to issue any loan guarantees or investments. This promise will be updated accordingly when it does.