Dozens of municipalities in Prince Edward Island can now access $200 million for infrastructure improvements.
According to a news release from the province, the federal and provincial governments signed the Canada Community-Building Fund (CCBF) for 2024 to 2034. The agreement will allow 57 municipalities to fund projects such as waste management, drinking water, bridge and road improvements, and energy systems.
“Our communities have welcomed a growing population but need new investments in critical infrastructure to keep up with this growth,” said Rob Lantz, minister of housing, land and communities, in the release. “As we work to remove barriers to home building and housing availability and affordability, this investment will complement existing provincial programs. This is a generational investment that will build sustainable, inclusive communities.”
P.E.I. will receive $94.5 million in the first five years of the agreement. Municipalities will learn about their funding allocations this summer.
“PEI’s road network is the backbone of our economy that supports our quality of life,” said Ernie Hudson, minister of transportation and infrastructure, in the release. “Our roads are essential for exporting and moving our goods to market and bringing essential goods to Islanders. CCBF will help to keep roads and bridges in incorporated areas safe and dependable for everyone.”
P.E.I. received $294 million in CCBF funding from 2005 to 2023.