Latest news with #CIB
Cision Canada
9 hours ago
- Business
- Cision Canada
CIB closes $50 million loan with Dream Industrial REIT to fund large-scale commercial building upgrades Français
Disponible en français Dream Industrial to retrofit 34 industrial buildings in Alberta, Ontario and Quebec Building upgrades include: solar photovoltaics; mechanical, electrical and air-handling systems; and building envelopes Expected to create approximately 630 jobs and generate 14,500 MWh of clean electricity from solar panels TORONTO, June 20, 2025 /CNW/ - The Canada Infrastructure Bank (CIB) and Dream Industrial Real Estate Investment Trust (TSX: have finalized a $50 million loan to fund commercial property retrofits related to energy efficiency savings and emissions reductions at 34 warehouses in Alberta, Ontario and Quebec. With buildings currently accounting for 18% of Canada's total emissions, investments from the CIB help to prioritize and accelerate building upgrades to help meet Canada's energy use goals. The CIB's investment will support upgrades to mid- and large-bay warehouses used for urban logistics, light industrial and distribution. Building upgrades include: mechanical and electrical systems, renewable energy generation, heating, ventilation and air conditioning systems, fuel switching, energy management technology, building envelope and electric vehicle charging. The projects are expected to create approximately 630 jobs and generate 14,500 MWh of clean electricity from installed renewable power generation such as solar panels. Dream Industrial REIT is part of the Dream Group of Companies, which was the first real estate group in Canada to receive a loan in 2022 as part of the CIB's Building Retrofits Initiative. Endorsements: Dream Industrial's new initiative is proof that our building retrofits program is succeeding in helping Canada's building owners to upgrade their properties and reduce energy use, at scale. By working with leaders in the Canadian real estate sector, we are supporting forward thinking companies interested in improving the communities within which they own properties through more efficient use of energy resources. Ehre n Cory, CEO, Canada Infrastructure Bank The CIB's partnership with Dream Industrial will cut emissions and lower energy costs of commercial buildings across Alberta, Ontario and Quebec. As a nation of builders, our government is making the needed investments in infrastructure that strengthens businesses and creates more jobs, so that we can build the strongest economy in the G7. Hon. Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for the Pacific Economic Development Canada "We are excited to partner with the CIB to complete large-scale energy efficiency improvements across our Canadian industrial portfolio. Investing in high-impact retrofits, including solar installations, aligns with Dream Industrial's strategy to invest in opportunities that produce attractive returns while improving the sustainability and resiliency of our assets, and help reduce emissions to accelerate the transition to a low-carbon built environment." Alexander Sannikov, President & Chief Executive Officer, Dream Industrial REIT
Zawya
14 hours ago
- Business
- Zawya
Egyptian pound weakens against dollar on Thursday
Arab Finance: The exchange rate of the US dollar to Egyptian pound increased to EGP 50.6 for buying and EGP 50.7 for selling at the National Bank of Egypt (NBE)on Thursday at 3:22 PM. Likewise, the USD traded at the same rate at both Banque Misr and the Commercial International Bank Egypt (CIB). © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Cision Canada
a day ago
- Business
- Cision Canada
Kwanlin Dün First Nation to play leading role in housing development in Whitehorse Français
$19.8 million CIB enabling infrastructure loan supports needed housing units Accelerates enabling infrastructure to unlock more than 380 housing units Acts as a model for future KDFN and Yukon Government housing developments KDFN and Yukon government to share resources and expertise WHITEHORSE, YT, June 19, 2025 /CNW/ - The Canada Infrastructure Bank (CIB) is providing a $19.8 million enabling infrastructure loan to help Kwanlin Dün First Nation (KDFN) accelerate construction timelines for more than 380 housing units in Whitehorse. The 45-acre Chasàn Tatäy (formerly known as Range Point) master-planned community is a joint development between KDFN and Government of Yukon. The project consists of two adjacent parcels: 37 acres of KDFN settlement land and 8-acres of Government of Yukon land. The CIB's loan will advance enabling infrastructure to prepare the site for housing development. Enabling works include construction of water and wastewater mains, roads, underground utility connections and broadband service on KDFN's parcel. Access to the CIB's affordable capital will enhance KDFN's ability to make important investments in housing and infrastructure to support the needs of citizens. The development will help generate long-term stable revenues for the First Nation, which will be reinvested into programs and services for citizens. Construction of the Chasàn Tatäy development is expected to begin in summer 2025. This investment represents the CIB's first loan to achieve financial close in the Yukon. The CIB will continue to collaborate with First Nations, Métis and Inuit communities on new infrastructure in partnership with and for the benefit of Indigenous communities across Canada. Endorsements Investing in enabling infrastructure to unlock more housing is essential, especially in northern communities where access to affordable, long-term capital can be a challenge. We are proud to partner with KDFN on this project to accelerate the construction of new homes on their settlement lands and advance community and economic benefits. Ehren Cory, CEO, Canada Infrastructure Bank Kwanlin Dün First Nation has been working collaboratively with governmental partners on projects of mutual benefit to construct more homes for KDFN citizens and residents of City of Whitehorse. It is through the Land Vision developed with citizens over the years that has created and support this important development of KDFN settlement land in 2025. Chief Sean Uyenets'echᶖa Smith, Kwanlin Dün First Nation Before you can build homes, you need to lay the right foundation. Investments in key infrastructure—like roads, water and underground utilities—are essential to building a strong community and a strong local economy. This investment, CIB's first in Yukon, will help lay that critical foundation to build much-needed housing in Whitehorse. Brendan Hanley, Member of Parliament for Yukon, and Parliamentary Secretary to the Minister of Northern and Arctic Affairs Our partnership with Kwanlin Dün First Nation has been instrumental in helping the Government of Yukon meet the demand for new lots and provide new and innovative opportunities to meet the housing needs of our growing population. This unique collaboration has also opened the door to more partnerships in land development. We are thankful for the support of the Canada Infrastructure Bank, whose contributions are helping create sustainable vibrant communities across the territory. Hon. Richard Mostyn, Minister of Community Services, Government of Yukon The City of Whitehorse is pleased to see the Chasàn Tatäy development moving forward alongside our partners at Kwanlin Dün First Nation. Whitehorse is one of the fastest growing cities in Canada, with a strong demand for housing, and we need to look at innovative ways to meet the needs of our residents. The Range Point development will mark a new, Indigenous-led model that will significantly increase housing options in our community.
Zawya
3 days ago
- Business
- Zawya
USD exchange rates above EGP 50-mark at Egyptian banks
Likewise, the USD traded at EGP 50.1 for purchasing and EGP 50.2 for selling at Banque Misr, the Commercial International Bank Egypt (CIB), and the United Bank
Cision Canada
3 days ago
- Business
- Cision Canada
Torngat Metals secures $165 million in financing from Export Development Canada and Canada Infrastructure Bank Français
MONTREAL, June 17, 2025 /CNW/ - Torngat Metals Ltd., a Quebec-based rare earth development company, is pleased to announce the signing of a CA$110 million bridge loan facility agreement with Export Development Canada ("EDC"), and a loan commitment of up to CA$55 million from the Canada Infrastructure Bank ("CIB"), to support the next phase of its Strange Lake project. The Strange Lake project is unique due to its significant quantities of light and heavy rare earths, particularly dysprosium and terbium, which are essential to permanent magnets and low-carbon solutions. This CA$165 million of combined financing will enable Torngat Metals to carry out key pre-construction activities, including engineering and environmental studies, which are required to submit permit applications for project infrastructure in Quebec and Labrador. "I would like to thank EDC and the CIB for their confidence in our vision and for recognizing the strategic importance of Torngat Metals' rare earth project, which aims to establish a responsible rare earth supply chain in Canada, essential to the global energy transition," said Yves Leduc, Chief Executive Officer of Torngat Metals. "This financing comes at a critical juncture, as the Chinese monopoly of heavy rare earths drives the global permanent magnet shortage. Our partnership with these two renowned Canadian institutions will help us achieve key project milestones towards unlocking the largest supply by far of dysprosium and terbium outside China." "EDC is proud to be a financing partner to Torngat Metals as they advance the next phase of the Strange Lake mining project. It's a reflection of our commitment to supporting the development of Canadian rare earth minerals, a national strategic priority," says Alison Nankivell, EDC's President and CEO. "This early-stage bridge loan facility is a first for EDC and the financing will be used by Torngat Metals to undertake essential pre-construction work. We look forward to building on this partnership as part of our broader support to the Canadian mining and mining supply sector." "We are proud to partner with Torngat Metals to advance the Strange Lake project – our first in the critical minerals sector," says Ehren Cory, CEO, Canada Infrastructure Bank. "Collaboration with the private sector to catalyze investment in rare earth mineral deposits and advance nationally significant projects will strengthen Canada's position in the global export markets." Funds from both the EDC and CIB will be released in phases, aligned with specific project milestones that involve detailed engineering and environmental compliance. Additionally, Torngat Metals intends to launch a limited recourse project financing later in 2025, with the intention of completing the Project Financing before the end of next year. Rothschild & Co acted as financial advisor to Torngat Metals, with Sullivan & Cromwell LLP and Stikeman Elliott LLP acted as legal counsel with respect to bridge financing. These advisors continue to advise Torngat on the Project Financing. About EDC Export Development Canada (EDC) is a financial Crown corporation dedicated to helping Canadian businesses make an impact at home and abroad. EDC has the financial products and knowledge Canadian companies need to confidently enter new markets, reduce financial risk and grow their business as they go from local to global. Together, EDC and Canadian companies are building a more prosperous, stronger and sustainable economy for all Canadians. For more information and to learn how we can help your company, call us at 1-800-229-0575 or visit About the Canada Infrastructure Bank The Canada Infrastructure Bank (CIB) invests in revenue-generating infrastructure which benefits Canadians and attracts private capital. The CIB is a catalyst for private investment in projects that support economic growth. The CIB is working on investment opportunities, from coast to coast to coast, which reflect our priority sectors for investment – green infrastructure, clean power, public transit, trade and transportation and broadband infrastructure About Torngat Metals Ltd. Torngat Metals is a private company based in Canada working to develop the Strange Lake Rare Earth Project to responsibly supply rare earth elements required for high-tech and low-carbon solutions. With development activities in Quebec, Newfoundland, and Labrador, the company aims to be a globally recognized supplier of light rare earths and a global leader in solving the heavy rare earth supply crisis for dysprosium and terbium. Leveraging robust partnerships with Indigenous peoples and local communities, new approaches to minimizing environmental impacts, and cutting-edge engineering, Torngat Metals looks forward to playing a pivotal role in the global transition to clean energy. Learn more at
