The Government of Ontario has provided an update on Infrastructure Ontario’s (IO) loan program.

The program is one of several alternative financing approaches adopted by IO to provide affordable, long-term funding to renew and build public infrastructure. Municipalities and other public-sector organizations can use IO loan funding to finance a range of capital expenditures including construction and expansions, energy-efficiency projects and equipment purchases.

The government update, issued on January 29, shows that the province has committed to more than $550 million in loans for 159 local infrastructure projects in 58 communities in 2020. Projects ranged from snow blowers, fire trucks and graders, to storm sewers, landfills and shoreline work, housing, roads and bridges. 

"The IO loan program continues to provide affordable long-term financing to help complete a wide range of infrastructure projects across the province," said Infrastructure Minister Laurie Scott. "Our goal is to provide support where it is needed to ensure our communities are protected and positioned for recovery."

IO committed to financing 159 local projects in 2020, including:

• 43 road and bridge projects – almost $70 million in loans, including road/sidewalk rehabilitation projects in the City of Thunder Bay,
• 25 water/wastewater projects – nearly $80 million in loans, including a plant expansion in the City of Quinte West,
• five recreation projects – $9 million in loans, including arena upgrades in the Town of Lincoln,
• four housing projects –$7.8 million in loans, including expanded housing for Kingston and Frontenac Housing Corporation, and
• four long-term care projects – $184 million in loans, including the Golden Plough long-term care home in Northumberland County.

Regionally, the loans have been distributed as follows:

• 29 projects in Northern Ontario – $46.4 million in loans
• 63 projects in Eastern Ontario – $294.5 million in loans
• 64 projects in Southwestern Ontario – $159.5 million in loans
• Three projects in Central Ontario – $54.3 million in loans

Since 2003, more than $11 billion in loans have been approved in support of more than 3,100 community infrastructure projects across the province.