Federal government transfers $9 million through the Canada Community-Building Fund to Nunavut

IQALUIT, NU, Aug. 23, 2024 /CNW/ - The federal government has transferred $9 million to Nunavut under the Canada Community-Building Fund (CCBF) for the first payment of the 2024-2025 fiscal year. This will help communities across the territory invest in their local infrastructure priorities.

This is the first of two payments to Nunavut for this fiscal year. The next payment is expected to be made prior to the end of the fiscal year.

This is the first transfer through the recently renewed CCBF agreement with the territory. This agreement runs from 2024-2034, and under it Nunavut will receive more than $94.5 million over the next five years, including $18 million this fiscal year.

CCBF provides communities with predictable and flexible funding across 19 different project categories, including drinking water, wastewater, public transit, and community energy systems, and helps them develop the required infrastructure for future housing developments.

Quotes

"Investments in infrastructure are essential in building more affordable, inclusive, and stronger communities for all Canadians. With this payment through the Canada Community-Building Fund, communities in Nunavut will be able to invest in infrastructure projects that meet the needs of their residents today, and ones that support more housing supply for the future."

The Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities

"The Government of Nunavut is pleased to receive the first scheduled payment under the Canada Community-Building Fund. We are eager to disburse these funds to our communities, supporting their efforts to advance municipal infrastructure needs."

The Honourable David Joanasie, Minister of Community and Government Services

Quick facts

• The federal government is renewing the Canada Community-Building Fund (CCBF) and is investing $26.7 billion over the next ten years (2024-2034) to support core infrastructure projects.
• The federal government has transferred $9 million to the Government of Nunavut for the first payment of the 2024-2025 fiscal year.
• Nunavut will receive more than $94.5 million from the CCBF over the next five years, including $18 million for the 2024-2025 fiscal year.
• Since 2015, the Government of Canada has invested $24.2 billion across Canada through CCBF, including $181.6 million in Nunavut communities.
• The CCBF is a permanent, indexed source of funding provided up front, twice a year, to provinces and territories, who in turn flow this funding to local governments and other entities to support local infrastructure priorities.

Associated links

The Canada Community-Building Fund

Canada Community-Building Fund in Nunavut

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SOURCE Department of Housing, Infrastructure and Communities

Contacts: For more information (media only), please contact: Micaal Ahmed, Communications Manager, Office of the Minister of Housing, Infrastructure and Communities, 343-598-3920, [email protected]; Media Relations, Housing, Infrastructure and Communities Canada, 613-960-9251, Toll free: 1-877-250-7154, Email: [email protected]