Canada 2 billion dollars investment on high speed internet

On June 25, 2024, Deputy Prime Minister and Minister of Finance Chrystia Freeland announced that the Canada Infrastructure Bank (CIB) has invested over $2 billion in eight internet service providers to expand high-speed internet access to 430,000 rural and remote Canadian households. This significant investment, made in partnership with Canadian internet service providers and public sector partners, aims to bridge the digital divide by bringing high-speed internet to underserved communities, including Indigenous, rural, and remote regions where the cost of connection has previously been a barrier. This initiative is part of the federal government’s broader effort to create a fairer Canada, ensuring that all Canadians, regardless of location, can participate in the digital economy.

Sean Fraser, Minister of Housing, Infrastructure and Communities, and Gudie Hutchings, Minister of Rural Economic Development, emphasized the importance of reliable internet for the growth and success of all communities. Ehren Cory, CEO of the Canada Infrastructure Bank, highlighted the transformative impact of this investment on access to health care, education, and economic opportunities in remote areas. This initiative complements other government programs like the Universal Broadband Fund and aims to meet the target of providing high-speed internet to 98 percent of Canadians by 2026 and achieving 100 percent coverage by 2030.