Federal government transfers more than $24 million through the Canada Community-Building Fund to New Brunswick

FREDERICTON, NB, Aug. 14, 2024 /CNW/ - The federal government has transferred more than $24 million to New Brunswick under the Canada Community-Building Fund (CCBF) for the first payment of the 2024-2025 fiscal year. This will help communities across the province invest in their local infrastructure priorities.

This is the first of two payments to New Brunswick 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 province. This agreement runs from 2024-2034, and under it New Brunswick will receive more than $254 million over the next five years, including $48 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

"Whether it's a new fire hall, upgrades to a water treatment plant or new amenities at a local park, investments powered by the Canada-Community Building Fund are making a positive difference in the lives of citizens across New Brunswick. It's yet another example of the collaborative approach our government will always bring to the table."

The Honourable Dominic LeBlanc, Minister of Public Safety, Democratic Institutions and Intergovernmental Affairs on behalf of the Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities

"The Canada Community-Building Fund will help New Brunswick communities build and revitalize public infrastructure in keeping with priorities such as productivity and economic growth; a clean environment; strong cities and communities; and improved housing supply and affordability. Successfully aligning federal priorities with the realities of our communities is a shining example of how our strong partnerships can have a significant impact on the quality of life in our province."

The Honourable Glen Savoie, Minister of Local Government

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 $24,270,258.50 million to the Government of New Brunswick for the first payment of the 2024-2025 fiscal year.
• New Brunswick will receive more than $254 million from the CCBF over the next five years, including $48 million for the 2024-2025 fiscal year.
• After the first five years, funding levels will be reassessed to reflect the 2026 Census.
• Since 2015, the Government of Canada has invested $24.2 billion across Canada through CCBF, including $508.9 million in New Brunswick 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 New Brunswick

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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]