The bank will advise a group that is considering building a 1,200-kilometre transmission line bringing hydroelectricity and broadband internet from Manitoba to several communities in the territory. If the project goes ahead, the bank may invest directly. (The Globe and Mail)
Talking point: This is the bank’s ninth project and its second partnership with a pension fund. It’s also the first project in the Prairies and it comes after the Conservatives, which largely swept the region in last fall’s election, promised to close the bank. On Wednesday, CEO Pierre Lavallée said he hoped other pension funds, as well as international investors, would make more infrastructure investments in Canada. That’s the same pitch the bank has been making since it was founded in 2017. In October 2019, The Logic reported it was looking at creating a public utility to lower internet costs and provide service in areas that don’t have fast coverage. This new project could halve energy costs in parts of Nunavut and increase internet download speeds by 3,000 per cent.