Saskatchewan’s proposed irrigation plan will benefit from a $10 billion Canada Infrastructure Bank program announced Oct. 1.
The CIB intends to spend $1.5 billion for agriculture infrastructure. According to a backgrounder issued with the federal government’s news release, that includes “transformative irrigation infrastructure” in Western Canada.
“The benefits of this new initiative include the addition of an estimated 700,000 acres of newly irrigated land, increased food output, improved water resource management, more secure domestic food supply and export opportunities,” the document said.
Saskatchewan has proposed a 500,000-acre project to expand its irrigable acres.
The government said the investment will help mitigate any private lender concerns about the risks associated with large projects that rely on commodity prices.
It also suggests that irrigation projects could stimulate an additional $1.5 billion in on-farm investment by users.
The CIB will also invest $2 billion for broadband to improve connectivity, particularly in underserved communities.
