Inuvialuit Regional Corporation (IRC) will use the loan to build the M-18 well project, which is expected to supply the northern region with fossil fuel gas and synthetic diesel for more than 50 years. (The Logic)

Talking point: The gas plant is meant to improve the region’s energy security by reducing its reliance on transporting liquefied natural gas and diesel from the south. Hillary Thatcher, head of Indigenous investments for the Canada Infrastructure Bank (CIB), said the federal Crown corporation got involved because of a dearth of private capital available at reasonable rates. The project will cost an estimated $293 million and will take two years to build, said Thatcher. Once complete, CIB and IRC said it will reduce greenhouse gas emissions by 40,000 tonnes per year.