CHARLOTTETOWN, PE, Aug. 19,
2024 /CNW/ - The federal government has transferred
$9 million to Prince Edward Island 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 Prince Edward Island 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 Prince Edward Island
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
"From roads and bridges to public transit, infrastructure is
vitally important to our daily lives. This federal transfer of
$9 million to the provincial
government under the Canada Community-Building Fund will help make
sure we're meeting the local needs and priorities of our Island
communities."
The Honourable Lawrence MacAulay, Minister of Agriculture and
Agri-Food and Member of Parliament for Cardigan on behalf of
the Honourable Sean Fraser, Minister of Housing,
Infrastructure and Communities
"The Province of Prince Edward
Island is committed to helping our communities build new
homes and the required infrastructure they need to be vibrant,
healthy communities. The Canada Community-Building Fund complements
this work, and we are pleased to see how these community-led
infrastructure projects will support the foundation of our
neighbourhoods, our local economy and the quality of life of our
residents."
The Honourable Rob Lantz, Minister of Housing, Land 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 $9 million to the Government of Prince Edward Island for the first payment of
the 2024-2025 fiscal year.
- Prince Edward Island 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 $181.7 million in Prince Edward Island 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 Prince Edward Island
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SOURCE Department of Housing, Infrastructure and Communities