The First Nations Bank of Canada has approved its first loan under the Indigenous Land Development Program.

In partnership with the Canada Infrastructure Bank, the duo will be funding projects that have been delayed for years due to financial challenges.

For every dollar of CIB financing, FNBC is lending $3 of its own. In the last few months, FNBC has been approved for about $140 million in Indigenous land infrastructure projects, only $30 million of which comes from CIB loan proceeds.

With the money, five projects are being funded in five Indigenous communities across Saskatchewan, British Columbia and Yukon.