MONTREAL, Aug. 12,
2024 /CNW/ - The federal government has transferred
more than $267 million to
Quebec 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 Quebec 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 Quebec will receive
more than $2.8 billion over the next
five years, including $535 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 Quebec 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
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 $267,627,495.50 to Quebec under the CCBF for the first payment of
the 2024-2025 fiscal year.
- Quebec will receive more than
$2.8 billion from the CCBF over
the next five years, including more than $535 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
$5.5 billion in Quebec 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 Quebec
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SOURCE Department of Housing, Infrastructure and Communities