Canada Infrastructure Bank (CIB) provided a loan of up to $300 million to build on its previous $1.3 billion investment in the Réseau Express Métropolitain (REM). CIB is investing in $35 billion new revenue-generating infrastructure projects which are in the public interest, increase economic growth and take action on climate change.
CIB is a Canadian crown corporation that co-invests in infrastructure projects, specifically in public transit, trade and transportation, and green infrastructure.
REM is a light rail transit network currently under construction in Greater Montréal. The project will consist of 26 stations across the Greater Montréal area and will provide fast and direct service between downtown Montréal and the Montréal–Trudeau International Airport.
McCarthy Tétrault LLP acted as counsel to CIB with a team led by Etienne Guertin and included Jody Aldcorn, Marc-Antoine Addoumie, Mathieu LeBlanc and Danielle Drolet.