By Shari Narine Local Journalism Initiative Reporter Windspeaker.com Thursday, February 15th, 2024 1:38pm
The Canada Infrastructure Bank (CIB) announced in Halifax this morning that its first Indigenous Equity Initiative is an $18 million loan made to Wskijinu’k Mtmo’taqnuow Agency (WMA), an economic limited partnership owned by 13 Mi’kmaw communities in Nova Scotia.
WMA will work in partnership with Nova Scotia Power Inc. in the construction and deployment of energy storage facilities in the communities of White Rock, Bridgewater and Waverley. Nova Scotia Power is the recipient of $120.2 million from CIB for the project, which is still subject to regulatory approval.
Funding from CIB was crucial in allowing the Mi’kmaw Nations to participate in the project, says Crystal Nicholas, president and interim general manager of WMA.
“There’s a lot of First Nations who have the ability to participate (in economic projects), but there’s a lot that don’t as well. So for the smaller First Nations, this is a huge opportunity and the fact that it benefits all 13 equally, that’s a huge deal,” said Nicholas.