The Canada Infrastructure Bank (CIB) and Telus have partnered up to expand high-speed internet service across B.C.
Essentially, the CIB will loan Telus $49.3 million to provide internet access to both rural and Indigenous communities. The CIB notes that this offering was developed under both the Connecting Communities BC program and the Universal Broadband Fund.
The project involves the deployment of backbone and last-mile broadband infrastructure with fibre-to-the-home, which the press release states will bring high-speed internet access to more than 17,000 underserved households and rural communities, including 380 Indigenous households.
The CIB says this new investment partnership marks the second time the CIB and Telus have collaborated to expand high-speed internet service in Canada.
To add some more context, the Government of Canada opened applications for the Universal Broadband Fund through the Canadian Radio-television and Telecommunications Commission (CRTC) back in April.
Source: Canadian Infrastructure Bank
