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COWICHAN, B.C. — The 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.

According to a release, funding for both projects comes from the Canada Infrastructure Bank’s Indigenous Community Infrastructure Initiative.

Malahat Nation’s $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.

“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,” the release adds.

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 the on-reserve project that includes two rental buildings, commercial space, an outdoor kitchen, children’s play area and community gardens.

The CIB’s investment allows for a 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, the release notes.

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, which is a group of 100 per cent Indigenous-owned Cowichan Tribes companies offering services like site servicing and excavation.