Canada Infrastructure Bank now supporting more than 50 projects

(Toronto – November 30, 2023) – Recognizing the vital role of infrastructure in shaping Canada’s economic landscape, the Ontario Chamber of Commerce (OCC) partnered with the Canada Infrastructure Bank (CIB) for their Fall Market Update, looking at the CIB’s latest partnerships and progress. The CIB uses blended financing to advance projects which modernize and future-proof communities by collaborating with Indigenous, public, and private partners.

“Infrastructure is key to increasing productivity and growing the economy. With Canada facing a critical infrastructure gap, strategic investments are needed now more than ever in low-carbon transit, broadband, housing, energy grids, retrofits, wastewater, and more,” said Rocco Rossi, President and CEO of the OCC. “The CIB is leading the way to show how private and public stakeholders can collaborate to create innovative financing options that produce positive infrastructure outcomes while generating economic efficiencies.”

The CIB is addressing some of Canada’s most pressing infrastructure challenges such as reducing the infrastructure gap in Indigenous communities – to accelerating the availability of electric vehicle charging options across the country – to bringing more sustainable energy projects online.

“The CIB works with project partners to get projects off the ground that may not otherwise happen. Our momentum is strong with more than $10B invested in more than 50 projects across our priority sectors. Approximately 40 investments are in the construction or development stages with two recently completed, resulting in better infrastructure for Canadians,” said Ehren Cory, Chief Executive Officer of the CIB.

During the Fall Market Update, Cory shared how the CIB is advancing positive outcomes for Canadians such as sustainable economic growth, climate change action, and economic reconciliation. The CIB has advanced the following public-good outcomes:
200,000 additional acres of farmland irrigated

• 45 Indigenous communities with new infrastructure
• 174,000 daily transit trips enabled through cleaner transit
• 344,000 households connected to broadband
• A reduction of 5.1 Mt of greenhouse gas reductions

Access the CIB’s Fall Market update.
A virtual recording of the event will be available on the OCC’s website, featuring remarks from Rocco Rossi as well as a presentation and fireside chat with Ehren Cory.

The OCC would like to extend thanks to our Promotional Partner, the Canadian Chamber of Commerce.

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About the Ontario Chamber of Commerce
The Ontario Chamber of Commerce (OCC) is the indispensable partner of business and Canada’s largest, most influential provincial chamber. It is an independent, not-for-profit advocacy and member services organization representing a diverse network of 60,000 members. The OCC’s mission is to convene, align and advance the interests of its members through principled policy work, value-added business services and broad engagement to drive competitiveness and economic growth in the province.

For more information, please contact:
Andrea Carmona
Manager, Public Affairs,
Ontario Chamber of Commerce
andreacarmona@occ.ca | Mobile: (647) 234-0255