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Federal bank loaning $1B for BC Ferries to buy Chinese-made ships
- BC Ferries secured a $1 billion low-interest loan from the Canada Infrastructure Bank in March 2025 to purchase four new ferries from a Chinese state-owned shipyard.
- The procurement followed a five-year process during which no B.C. shipyards bid due to limited domestic capacity and financial challenges, according to Premier David Eby.
- Federal Transport Minister Chrystia Freeland issued a dismaying June 16 letter demanding assurances no federal funds would support the purchase and highlighting security and tariff concerns.
- B.C. Ferries CEO Nicolas Jimenez expressed surprise at Freeland's letter and emphasized the loan reduces interest costs by about $650 million and supports fleet renewal.
- The deal sparked controversy over domestic shipbuilding capacity and federal support equity, with calls to strengthen Canadian industry amid urgent ferry replacements.
69 Articles
69 Articles
Should the Canada Infrastructure Bank lend BC Ferries $1 billion to buy Chinese-made ships?
A federal Crown corporation is loaning BC Ferries $1 billion to help buy four Chinese-made ferries, a purchase that federal transport minister Chrystia Freeland recently said was dismaying and should involve no federal funds.
Federal bank is loaning $1B for BC Ferries to buy Chinese-made ships
A federal Crown corporation is loaning BC Ferries $1 billion to help buy four Chinese-made ships, a purchase that federal Transport Minister Chrystia Freeland recently said was dismaying and should involve no federal funds.
Federal bank loaning $1B for BC Ferries to buy Chinese-made ships
A federal Crown corporation is loaning BC Ferries $1 billion to help buy four Chinese-made ferries, a purchase that federal transport minister Chrystia Freeland recently said was dismaying and should involve no federal funds.
The Infrastructure Bank of Canada (BIC) is lending $1 billion to BC Ferries for the purchase of four Chinese-made vessels. The Federal Minister of Transport, Chrystia Freeland, had recently described this purchase as a consternation and should not be funded by the federal government.
B.C. Ferries receives $1B federal bank loan for Chinese-made ships
B.C. Ferries has secured a $1 billion loan by a federal Crown corporation to help obtain four Chinese-made ships, a purchase that federal Transport Minister Chrystia Freeland recently said should not involve federal funds.
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