The Insurance Bureau of Canada (IBC) is congratulating the Ontario government for its decision to fund stormwater and wastewater infrastructure, which can help mitigate flood risk.

Ontario’s government will now allow communities within the province with populations under 100,000 to apply for stormwater and wastewater infrastructure funding. The funding will be granted through the Green Infrastructure stream, which is part of the Canada Infrastructure Program – a cooperative investment effort between the federal and provincial governments.

"IBC congratulates the Ontario government for investing in stormwater and wastewater infrastructure," said IBC Ontario vice-president Kim Donaldson in a statement following Ontario’s announcement of the program.

"We have been calling for investments in flood defence infrastructure. These investments will help protect people and communities from the impacts of extreme weather and flooding,” commented Donaldson, who added that the IBC is happy to see that smaller communities are now eligible for the funding.

The Green Infrastructure stream will initially target projects in communities that need the investment the most. A release explained that cities, First Nations, local service boards, conservation authorities and other not-for-profit entities that own eligible infrastructure assets may apply for funding up to a maximum of $3 million per project for eligible costs.

About $200 million will be made available in federal and provincial funding.