Latest news with #CIB
Yahoo
12 hours ago
- Business
- Yahoo
BBVA introduces digital bank in Germany
BBVA has launched its fully digital bank in Germany, marking its second such offering in Europe. The Spanish banking group had earlier operated in Germany through its Corporate & Investment Banking (CIB) arm. The introduction of its digital bank in the country follows a launch in Italy at the end of 2021. The German proposition offers a checking account with a 3% interest rate for the first year as well as a debit card with 3% cashback on purchases, both free of fees. BBVA's digital banking services in Germany include free access to approximately 70,000 ATMs and cash withdrawal points throughout the country, with no charge for withdrawals exceeding €150. It supports instant SEPA transfers, direct debits, and a digital service for switching accounts, all free of cost. The digital bank provides 'flexible' financing options, such as the Pay&Plan programme, one-click personal loans and the Dispokredit overdraft facility. BBVA CEO Onur Genç said: 'We're bringing something new to Germany. A banking experience that combines the simplicity and convenience of a fee-free account, typical of digital actors, with the full range of products, reliability, and trust of a universal bank.' 'We believe German customers are ready for a fresh alternative that's mobile-first, transparent, and backed by the strength and reputation of a global bank like BBVA.' BBVA Germany operates under a full banking licence, providing German IBAN accounts that are protected under the European Deposit Protection scheme up to €100,000. The bank said its digital app has been designed to offer features like card management, 'secure' payments, 'real-time' updates, and budgeting tools. BBVA Germany has also introduced payment cards without printed data, featuring a dynamic CVV. Recently, the bank's Sabadell acquisition faced a delay as the Spanish government imposed a mandatory three-year waiting period before the two entities can integrate their operations. "BBVA introduces digital bank in Germany" was originally created and published by Retail Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Cision Canada
2 days ago
- Business
- Cision Canada
The CIB commits $50 million towards Creative Energy retrofit projects Français
Disponible en français CIB's $50 million partnership with Creative Energy focused on deep decarbonization First project is at Thompson Rivers University (TRU), retrofitting 12 existing buildings across campus and providing low carbon heating to the new Indigenous Education Centre Reducing emissions from heating systems in the connected buildings on campus by 95%, advancing toward zero carbon by 2030 KAMLOOPS, BC, June 26, 2025 /CNW/ - The Canada Infrastructure Bank (CIB) and Creative Energy have reached financial close on a $50 million loan to support the deep decarbonization of buildings through connection to district energy systems. The partnership will enable Creative Energy's clients in British Columbia and Ontario to reduce more than 90% of their emissions through options such as switching from natural gas heating to efficient electricity-based district energy systems. The first building retrofit project under the partnership will be at Thompson Rivers University, upgrading 12 buildings and providing heating capacity to one new building across its Kamloops, British Columbia campus. The campus will transition from decentralized natural gas heating to a high-efficiency electrified heat source using a centralized air-source and water-source heat pump strategy. The technology will reduce emissions from the heating systems in the connected building by 95%, creating a more sustainable campus for students and moving the university very close to its 2030 zero carbon goal. The CIB's agreement allows Creative Energy to advance and implement retrofit projects in the near term, quickly benefitting building owners and tenants. This partnership provides a long-term, flexible investment structure to incentivize building owners to upgrade their assets. Creative Energy is the owner and operator of one of North America's largest district energy systems. With buildings accounting for around 18% of Canada's total emissions, the CIB's retrofit investments aim to enhance building sustainability while reducing energy consumption and associated capital costs. Endorsements Our partnership with Creative Energy allows their tailored turnkey retrofit solutions designed to improve the efficiency of aging buildings to be implemented quickly, and address affordability concerns. This investment is part of the CIB's Building Retrofits Initiative which we've committed more than $1.2B towards financing sustainable building upgrades. Ehre n Cory, CEO, Canada Infrastructure Bank The CIB's partnership with Creative Energy provides building owners, like Thompson Rivers University, with the investments they need to improve energy efficiency, reduce greenhouse gas emissions, and create more sustainable places for people to learn, work, and live. By unlocking capital for sustainable retrofits, we're helping to cut emissions, lower energy costs, and create good jobs—while building healthier, more resilient communities across the country. Hon. Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada Creative Energy is proud to be a part of this landmark project at Thompson Rivers University, and to partner with the Canada Infrastructure Bank, as we seek to create community energy systems today, for a better world tomorrow. This partnership with the Canada Infrastructure Bank marks a major step forward in our mission to decarbonize buildings at scale. By unlocking access to long-term capital, we are accelerating the transition to affordable clean, efficient community energy systems – starting here in British Columbia through our collaboration with Thompson Rivers University and BC Hydro. Kieran McConnell, President and Chief Operating Officer, Creative Energy Sustainability is a core value at Thompson Rivers University, and our Low-Carbon District Energy System (LCDES) project marks our most ambitious effort yet to minimize our climate footprint. With the invaluable support of CIB financing, institutions like TRU can undertake crucial initiatives fostering a greener future. The LCDES will function as an educational cornerstone, serving as a 'living lab' within the Sustainability Powerhouse to highlight cutting-edge energy technologies. This initiative not only promises a more sustainable campus but also invigorates sustainability initiatives that actively involve and benefit students.
Cision Canada
3 days ago
- Business
- Cision Canada
The CIB supports BC Ferries' essential service upgrades Français
Loans help deliver 8 vessels to expand capacity, cut emissions and create quieter commutes for passengers BC Ferries' new vessels will expand capacity for passengers and vehicles on its busiest routes. Replacing end of life vessels enhances BC Ferries' ability to deliver reliable service, minimize disruptions and deliver a more efficient travel experience. CIB loans are expected to reduce the pressure of fare increases on BC Ferries' customers and help BC Ferries achieve environmental goals by introducing electric-ready vessels. A large portion of the New Major Vessels loan is targeted to fund infrastructure required to support ferry electrification and associated emissions reductions. A study by InterVISTAS estimates that the new major vessels will support thousands of local direct and indirect jobs and the movement of goods. VANCOUVER, BC, June 26, 2025 /CNW/ - The Canada Infrastructure Bank (CIB) recently made its second investment in modernizing BC Ferries' fleet and terminal renewal efforts aimed at reducing service disruptions due to mechanical issues, enabling vessel electrification and increasing overall fleet capacity. By providing financing at a lower cost than traditional market rates, the CIB's investment will also help reduce pressure on future fare increases. The CIB's initial $75 million investment in four hybrid battery-electric Island Class ferries and the related shore-side charging infrastructure is on track for completion by 2027. The new Island Class vessels are part of BC Ferries' ongoing efforts to replace its existing fleet over time with quieter and more environmentally friendly vessels. The vessels will be capable of operating exclusively on battery-electric power, once shore-side charging is installed and the new propulsion systems are expected to further reduce underwater radiated noise for marine life. To help address aging vessels for some of the busiest lower mainland and southern Vancouver Island routes, the CIB has committed to providing an additional loan of up to $1 billion towards the purchase of higher-capacity hybrid New Major Vessels and the related future terminal upgrades. This loan is allocated as two tranches, up to $690 million towards vessels and up to $310 million towards electrification infrastructure. The CIB's loan will assist with the replacement of vessels that are between 48 and 61 years old and help to reduce pressure on fares associated with capital upgrades. The design of the vessels includes engines capable of using biodiesel and battery-hybrid propulsion initially, allowing for conversion to full battery-electric operation in the future, a step that is expected to significantly reduce environmental emissions from operations. BC Ferries is currently planning for the four new higher-capacity hybrid ferries to deliver quieter and more efficient operations on the major routes between Vancouver and Victoria as well as Vancouver and Nanaimo. The vessels are designed to be capable of accommodating 2,100 passenger and 360 vehicles, up from the current average capacity of 1,200-1,500 passengers (+52%) and 250-310 vehicles (+24%). Without CIB financing, the costs of the new ferries and electrification infrastructure would need to be borne more fully by BC Ferries' customers and every year of delayed purchase risks more service disruptions, reduced travel options and fewer employment gains. It is estimated the four vessels alone will result in more than a $1 billion invested by BC Ferries in the local maritime sector for all the repair and refits required over their lifespans. A preliminary independent economic analysis also estimates that the employment impact of BC Ferries' New Major Vessels will be equivalent to more than 360 new jobs annually in BC, including direct, indirect, and induced impacts, generating $27 million annually in wages with an associated GDP impact of $48 million. The new vessels are also expected to facilitate an estimated $660 million in incremental commercial goods movement each year between BC's lower mainland and Vancouver Island. BC Ferries provides year-round passenger and vehicle ferry services with a fleet of 37 vessels serving 25 routes out of 47 terminals that are spread over 1,600 km of BC's coastline. In fiscal 2025, BC Ferries carried its highest volume of traffic ever, with 22.7 million passengers and 9.7 million vehicles travelling across more than 90,500 round trips. Endorsements: The CIB's partnership with BC Ferries further helps to improve one of the world's largest ferry networks. In addition to their environmental benefits, the new larger vessels will have the capacity to transport more people and vehicles on some of its marquee routes, extending the network's capacity. This CIB financing will enable residents and visitors to have earlier access to more reliable, environmentally conscious and cost-effective service. Ehren Cory, CEO, Canada Infrastructure Bank This investment is about more than replacing aging vessels - it's about ensuring that our coastal ferry system will have the capacity to meet the needs of the people, goods, and communities that depend on it. We believe that this partnership with the CIB will make a big impact in avoiding additional pressures on fare increases for our customers compared with borrowing from private markets. If we leverage the full loan amount, over the term, we expect to save approximately $650m in debt interest charges. It's a smart, long-term partnership that advances our operational, environmental, and financial goals. Nicolas Jimenez, President and CEO, BC Ferries FORWARD LOOKING STATEMENTS This press release contains certain "forward-looking statements." These statements relate to BC Ferries expectations regarding future events or future performance including without limitation expectations regarding growth in demand for ferry services, future fare increases, ability to meet conditions to future draws under the financing, interest savings under CIB loan versus private market rates, ship reliability and capacity, capability of vessels to run efficiently on alternative fuels or electricity, vessel GHG emission reductions targets, ability of ship design to meet desired outcomes, financial and operational risks, and industry and financial markets performance and trends. They reflect management's current internal projections, expectations and beliefs, and are based on information currently available to management. Some of the market conditions and factors that have been considered in formulating the assumptions upon which forward-looking statements are based include population and demand growth estimates, shipbuilding demand and cost projections, past performance of ship builder and ship designer, traffic trends, inflation, interest rates, fuel costs, construction costs and timelines, our expected future financial condition (including expected sources of future revenues), the state of the economy, fluctuating financial markets and impacts of tariffs, international sanctions and other applicable laws. A number of factors could cause actual events or results to differ materially from the results discussed in the forward-looking statements. Although BC Ferries believes that the forward-looking statements contained in this press release are based upon reasonable assumptions, investors cannot be assured that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release and British Columbia Ferry Services Inc. assumes no obligation to update or revise them to reflect new events or circumstances except as may be required by applicable law.
Cision Canada
4 days ago
- Business
- Cision Canada
Infrastructure funding to help build housing at two Vancouver Island First Nations
CIB providing $66.7 million in loans to Malahat Nation and Cowichan Tribes Disponible en français Enabling infrastructure and water and wastewater treatment to facilitate on-reserve housing and economic development Addresses community housing shortages and affordability First Canada Infrastructure Bank (CIB) projects on Vancouver Island to achieve financial close COWICHAN, BC, June 25, 2025 /CNW/ - Malahat Nation and Cowichan Tribes on Vancouver Island are receiving a combined $66.7 million in loans to enable on-reserve housing construction and business development. Funding for both projects comes from the Canada Infrastructure Bank's Indigenous Community Infrastructure Initiative (ICII). The CIB has committed more than $1 billion to date on projects for and in partnership with Indigenous communities. Malahat Nation's access to a $57.8-million loan will help fund the replacement of a 28-year-old water treatment plant that is at capacity and build a new wastewater treatment plant to replace failing septic beds. Increased water capacity will enhance emergency preparedness while the new wastewater system will better protect local ground water, the ecosystem and shellfish beds in Saanich Inlet. The CIB's investment will amplify $15.8 million in contributions from Indigenous Services Canada to further unlock the development of Malahat's primary reserve lands, located 25 kilometres northwest of Victoria, enabling new housing and economic development opportunities. Planned developments include a multi-residential project with over 200 units, a building for Thales (west coast home of Department of National Defence AJISS Program) and a battery plant. An $8.9-million loan from the CIB to a Khowutzun Development Corporation (KDC) project, in partnership with BC Housing through the Province's BC Builds program, will support enabling infrastructure for the Rivers Edge development. KDC, which is wholly owned by Cowichan Tribes, developed this on-reserve project that includes two rental buildings, commercial space, an outdoor kitchen, children's play area and community gardens. The CIB's investment unlocks the opportunity to build the 200-home development on Cowichan Tribes' reserve lands by financing new infrastructure such as site preparation, utility upgrades and connections, roads and streetscaping, and electric vehicle charging stations Rivers Edge is being celebrated as a model of collaborative partnership, overcoming challenges in securing funding from multiple sources. The project is part of Cowichan Tribes' economic development strategy through KDC and prioritizes the needs of its citizens—who will have the first right of refusal for all homes in Rivers Edge, including the 20% of homes at Rivers Edge that will be rented at below-market rates. The broader development will also generate career and training opportunities for Cowichan Tribes citizens and other First Nations through KDC initiatives such as Cowichan Contractors — a group of 100% Indigenous-owned Cowichan Tribes companies offering services like site servicing and excavation. Economic benefits generated by the project will be reinvested into the community, supporting long-term prosperity. Endorsements The CIB's two investments on Vancouver Island will help First Nations build much-needed housing to welcome off-reserve citizens home. The Malahat Nation water and wastewater project underscores the importance of speeding up development timelines for projects that have outsized positive impacts - even in small communities. Enabling infrastructure will allow the Cowichan Tribes to build much-needed housing for their citizens and the broader community. Ehre n Cory, CEO, Canada Infrastructure Bank Today marks a significant step forward — not just for this project, but for the well-being of our entire community. The CIB's investment in these developments will help deliver a modern, reliable water and wastewater infrastructure. These next steps are vital in creating a brighter future for the next generations, bringing both meaningful employment and the much-needed housing our Nation deserves. Chief Gordon Harry, Malahat Nation As the largest First Nation in BC by population with more than 5,500 citizens, the need for housing for our families is acute. However, there are many complex challenges to building on-reserve housing. I commend KDLLP for the unique partnerships and collaboration they have fostered with the Province of BC, BC Housing, and the Canada Infrastructure Bank to build these 200 new homes. Today marks a milestone for not only this project, but for our community. This major housing development will transform the lives of the residents who will live here, at the edge of the Quw'utsun Sta'lo' (Cowichan River) which has sustained our people physically and spiritually for millennia. Chief Sulsulxumaat Cindy Daniels, Cowichan Tribes As a nation of builders, it's time to build Canada stronger. The CIB's investments in these projects will provide new, modernized wastewater infrastructure, enabling the construction of new homes for hundreds of people in the Malahat Nation and Cowichan Tribes. These important investments will unlock new opportunities for growth, economic development, and help build stronger, more prosperous communities across Vancouver Island. Hon. Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada The health of a community's water source is a clear indicator of the community's overall well-being. Today's announcement is about more than a new facility; it's about building sustainable infrastructure that will meet both the immediate and long-term needs of the community. Malahat Nation and Cowichan Tribes are moving towards a future defined by progress and strength. Hon. Mandy Gull-Masty, Minister of Indigenous Services Today's announcement shows how powerful partnerships can be. As the Member of Parliament for Esquimalt—Saanich—Sooke, I am especially proud to see projects that provide key building blocks for economic and community growth on Vancouver Island. Hon. Stephanie McLean, Secretary of State for Seniors. It's crucial that Indigenous people in B.C. have housing that reflects their needs and values. That's why we're working in partnership with First Nations, non-profits, and all levels of government to fast-track more rental homes. Through Rivers Edge, members of the Cowichan Tribes and people from the broader community will be able to find an affordable home in the community they love, close to family, friends and Elders. We'll keep working with our community and government partners to build stronger neighbourhoods with the services people count on. Hon. Ravi Kahlon, Minister of Housing and Municipal Affairs The Cowichan Valley is an extraordinary place, filled with a rich history passed down from our Hul'qumi'num ancestors. Rivers Edge will help many long-time Duncan residents and Tribes members to stay in the community, including the Elders who teach us and young adults who grew up here. Tribes members will have more opportunities to thrive on our traditional territory, and all residents will be able to stay close to family and loved ones. Debra Toporowski, MLA for Cowichan Valley Today represents the combined efforts of KDLLP, Cowichan Tribes, the Province of B.C., and the Canada Infrastructure Bank — a true testament to the power of collaboration and community. Our team of architects and engineers has delivered an inspired design that reflects the deep significance of the Cowichan River, the land, and the central role family plays in the lives of Cowichan Tribes citizens. Rivers Edge will provide much-needed housing for Cowichan Tribes and the wider Cowichan Valley, creating a positive legacy that will serve generations to come.
Yahoo
4 days ago
- Business
- Yahoo
Infrastructure funding to help build housing at two Vancouver Island First Nations
CIB providing $66.7 million in loans to Malahat Nation and Cowichan Tribes Disponible en français Enabling infrastructure and water and wastewater treatment to facilitate on-reserve housing and economic development Addresses community housing shortages and affordability First Canada Infrastructure Bank (CIB) projects on Vancouver Island to achieve financial close COWICHAN, BC, June 25, 2025 /CNW/ - Malahat Nation and Cowichan Tribes on Vancouver Island are receiving a combined $66.7 million in loans to enable on-reserve housing construction and business development. Funding for both projects comes from the Canada Infrastructure Bank's Indigenous Community Infrastructure Initiative (ICII). The CIB has committed more than $1 billion to date on projects for and in partnership with Indigenous communities. Malahat Nation's access to a $57.8-million loan will help fund the replacement of a 28-year-old water treatment plant that is at capacity and build a new wastewater treatment plant to replace failing septic beds. Increased water capacity will enhance emergency preparedness while the new wastewater system will better protect local ground water, the ecosystem and shellfish beds in Saanich Inlet. The CIB's investment will amplify $15.8 million in contributions from Indigenous Services Canada to further unlock the development of Malahat's primary reserve lands, located 25 kilometres northwest of Victoria, enabling new housing and economic development opportunities. Planned developments include a multi-residential project with over 200 units, a building for Thales (west coast home of Department of National Defence AJISS Program) and a battery plant. An $8.9-million loan from the CIB to a Khowutzun Development Corporation (KDC) project, in partnership with BC Housing through the Province's BC Builds program, will support enabling infrastructure for the Rivers Edge development. KDC, which is wholly owned by Cowichan Tribes, developed this on-reserve project that includes two rental buildings, commercial space, an outdoor kitchen, children's play area and community gardens. The CIB's investment unlocks the opportunity to build the 200-home development on Cowichan Tribes' reserve lands by financing new infrastructure such as site preparation, utility upgrades and connections, roads and streetscaping, and electric vehicle charging stations Rivers Edge is being celebrated as a model of collaborative partnership, overcoming challenges in securing funding from multiple sources. The project is part of Cowichan Tribes' economic development strategy through KDC and prioritizes the needs of its citizens—who will have the first right of refusal for all homes in Rivers Edge, including the 20% of homes at Rivers Edge that will be rented at below-market rates. The broader development will also generate career and training opportunities for Cowichan Tribes citizens and other First Nations through KDC initiatives such as Cowichan Contractors — a group of 100% Indigenous-owned Cowichan Tribes companies offering services like site servicing and excavation. Economic benefits generated by the project will be reinvested into the community, supporting long-term prosperity. Endorsements The CIB's two investments on Vancouver Island will help First Nations build much-needed housing to welcome off-reserve citizens home. The Malahat Nation water and wastewater project underscores the importance of speeding up development timelines for projects that have outsized positive impacts - even in small communities. Enabling infrastructure will allow the Cowichan Tribes to build much-needed housing for their citizens and the broader community. Ehren Cory, CEO, Canada Infrastructure Bank Today marks a significant step forward — not just for this project, but for the well-being of our entire community. The CIB's investment in these developments will help deliver a modern, reliable water and wastewater infrastructure. These next steps are vital in creating a brighter future for the next generations, bringing both meaningful employment and the much-needed housing our Nation deserves. Chief Gordon Harry, Malahat Nation As the largest First Nation in BC by population with more than 5,500 citizens, the need for housing for our families is acute. However, there are many complex challenges to building on-reserve housing. I commend KDLLP for the unique partnerships and collaboration they have fostered with the Province of BC, BC Housing, and the Canada Infrastructure Bank to build these 200 new homes. Today marks a milestone for not only this project, but for our community. This major housing development will transform the lives of the residents who will live here, at the edge of the Quw'utsun Sta'lo' (Cowichan River) which has sustained our people physically and spiritually for millennia. Chief Sulsulxumaat Cindy Daniels, Cowichan Tribes As a nation of builders, it's time to build Canada stronger. The CIB's investments in these projects will provide new, modernized wastewater infrastructure, enabling the construction of new homes for hundreds of people in the Malahat Nation and Cowichan Tribes. These important investments will unlock new opportunities for growth, economic development, and help build stronger, more prosperous communities across Vancouver Island. Hon. Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada The health of a community's water source is a clear indicator of the community's overall well-being. Today's announcement is about more than a new facility; it's about building sustainable infrastructure that will meet both the immediate and long-term needs of the community. Malahat Nation and Cowichan Tribes are moving towards a future defined by progress and strength. Hon. Mandy Gull-Masty, Minister of Indigenous Services Today's announcement shows how powerful partnerships can be. As the Member of Parliament for Esquimalt—Saanich—Sooke, I am especially proud to see projects that provide key building blocks for economic and community growth on Vancouver Island. Hon. Stephanie McLean, Secretary of State for Seniors. It's crucial that Indigenous people in B.C. have housing that reflects their needs and values. That's why we're working in partnership with First Nations, non-profits, and all levels of government to fast-track more rental homes. Through Rivers Edge, members of the Cowichan Tribes and people from the broader community will be able to find an affordable home in the community they love, close to family, friends and Elders. We'll keep working with our community and government partners to build stronger neighbourhoods with the services people count on. Hon. Ravi Kahlon, Minister of Housing and Municipal Affairs The Cowichan Valley is an extraordinary place, filled with a rich history passed down from our Hul'qumi'num ancestors. Rivers Edge will help many long-time Duncan residents and Tribes members to stay in the community, including the Elders who teach us and young adults who grew up here. Tribes members will have more opportunities to thrive on our traditional territory, and all residents will be able to stay close to family and loved ones. Debra Toporowski, MLA for Cowichan Valley Today represents the combined efforts of KDLLP, Cowichan Tribes, the Province of B.C., and the Canada Infrastructure Bank — a true testament to the power of collaboration and community. Our team of architects and engineers has delivered an inspired design that reflects the deep significance of the Cowichan River, the land, and the central role family plays in the lives of Cowichan Tribes citizens. Rivers Edge will provide much-needed housing for Cowichan Tribes and the wider Cowichan Valley, creating a positive legacy that will serve generations to come. Renée Olson, CEO, Khowutzun Development Corporation SOURCE Canada Infrastructure Bank View original content to download multimedia:
