Infrastructure Ontario (IO) in Canada has announced support to 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. 

IO has entered into new commitments to provide financing through its Loan Program to four eligible organizations. 

The organizations are:

• Municipality of Morris-Turnberry for the purchase of land for future infrastructure projects – CAD 850,000 (US$ 660,564)
• Town of Lincoln, located in Niagara Region for multiple projects including a fire station, stormwater management project and a community centre generator – CAD 1.75 million (US$ 1.36 million)
• Town of Aurora, located in York Region, for Library Square – CAD 38 million (US$ 29.53 million)
• Municipality of Grey Highlands for the Markdale water tower – CAD 5.1 million (US$ 3.96 million)

The Loan Program is one of Ontario’s financing approaches to help municipalities and other public-sector partners renew Ontario's public infrastructure. IO loans provide affordable, long-term financing in support of infrastructure development.  

With more than 440 public-sector clients, the Loan Program has helped finance various types of infrastructure projects such as the construction of roads, bridges, arena complexes, and long-term care homes, and the acquisition and installation of capital assets like fire trucks and energy-efficient lighting.