ONTARIO CONTINUES TO SUPPORT MUNICIPAL INFRASTRUCTURE RENEWAL THROUGH VIRTUAL OUTREACHPublished on January 22, 2021
TORONTO — Ontario continues to support its municipalities and other eligible public-sector partners in their work to improve the quality of life in their communities by providing affordable, long-term financing for infrastructure development and renewal, including through Infrastructure Ontario's (IO) Loan Program.
"As the financing needs of our province's communities continue to grow during the pandemic, Infrastructure Ontario has evolved to provide virtual loan and financing support for all municipalities," said Laurie Scott, Minister of Infrastructure. "This will help municipal infrastructure renewal and financial planning to continue through virtual communication in a safe and responsible manner."
On January 25, IO loan representatives will be attending this year's virtual Rural Ontario Municipal Association Annual Conference (ROMA). Conference delegates will be able to connect with representatives from IO's virtual conference booth.
Loan representatives from IO will also be at other upcoming virtual municipal events, such as the Ontario Good Roads Association Annual Conference (OGRA) in late February 2021.
The Loan Program continues to evolve in order to better meet client needs. Whether through the loan deferral program to assist municipalities during the pandemic, the introduction of new products, or process improvements, IO is continually looking for ways to build and enhance the program to support communities.
The Loan Program is one of Ontario's financing approaches to help municipalities and other public-sector partners renew public infrastructure across the province. IO loans provide affordable, long-term financing in support of infrastructure development.
IO Loan Program representatives may be reached anytime during normal business hours. Contact details can be found online.
- IO’s Loan Program is an alternative financing approach that provides affordable, long-term loans to renew and build public infrastructure.
- Since 2003, more than $11 billion in loans have been approved in support of more than 3,100 community infrastructure projects across the province.
- Loans can be used to finance a broad range of capital expenditures including construction and expansions, energy-efficiency projects, and equipment purchases.
- IO leverages the strength of the Province’s strong credit rating and passes savings along to its borrowers with no additional fees.
- Municipalities, municipal corporations, and housing providers make up almost 90 per cent of the loan volume (by value).