The Canada Infrastructure Bank is providing a $1 billion loan to BC Ferries to purchase four new vessels from a Chinese state-owned shipyard, a move that has sparked concern among federal and provincial politicians alike.
The Canada Infrastructure Bank (CIB), a federal Crown corporation, made the announcement on June 26, saying the below-market-rate financing provided to BC Ferries will help reduce future fare increases and support the modernization of the ferry operator’s fleet.
