Yesterday, March 12, 2024, the Canada Infrastructure Bank (CIB) announced that they reached an agreement with BC Hydro to provide Indigenous loan packages to winning bidders in BC’ Call for Power.

“For several months, BC Hydro and the CIB have been discussing the potential for CIB to support the Call for Power (the Call), and specifically to support First Nations looking to source capital to fund their equity ownership in winning bids.

The CIB has informed BC Hydro that it will support the Call by making a loan package available to all winning bidders. Draft credit documents will be available to all Proponents who register interest in the procurement at The CIB anticipates these documents to be available on the date that BC Hydro releases the Call Request for Proposal (RFP).”

BC’s new First Nations Equity Financing Framework and the upcoming federal Indigenous loan guarantee program (expected in Budget on April 16) are too early in the design process to apply to BC’s call for power.