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From Municipal Roots to Province-Wide Impact: The Story of IO’s Lending Program

IO 20 logo

In addition to IO’s work delivering major infrastructure projects and managing the province’s real estate portfolio, we play a vital role in supporting local infrastructure investments across Ontario through the Lending Program. By offering affordable, long-term financing, the program empowers municipalities and not-for-profit organizations to move forward with essential projects that strengthen communities, from delivering modern long-term care homes and enabling housing through water infrastructure, to purchasing new emergency vehicles, or even making critical upgrades to recreation centres to improve accessibility.

Together, these efforts advance IO’s mission to modernize public assets and improve quality of life across the province.

Why It Matters: Financing That Fuels Community Growth

White low-rise building with driveway and courtyard
Foyer Richelieu
“Affordable municipal financing provided by IO helps overcome funding barriers, accelerating projects that deliver critical services like long-term care, housing and community infrastructure, and enable the construction and rehabilitation of roads, bridges, and water pipes. Every dollar makes a difference in building stronger, more resilient communities, and is something we take great pride in.”
– Bernadette Chung, Vice President, Customer Relations

DID YOU KNOW?

IO’s Loan Program has supported more than 4,100 community infrastructure projects, across more than 480 clients. The program has supported more than $24 billion in local infrastructure investments across the province.

IO’s Loan Program has become a partner of choice for municipal financing solutions, not only because of the attractive loan terms, but also due to a proven track record of helping municipalities invest in infrastructure through cost-effective, reliable financing.

“Lending has always been a core strength of ours and this has been complemented in recent years by innovative financing and risk-sharing programs. The IO lending business continues to grow in both size and impact, and our provincial government, municipal and not-for-profit partners are increasingly looking to us to provide innovative financing solutions that meet their unique needs.”
– Michael Leong, Vice President, Commercial Underwriting
Brownstone row-rise building with residential building above
McDonald Family YMCA of Greater Toronto

The Evolution of the Lending Program

IO’s Lending Program began in 2003 with the creation of the Ontario Municipal Economic Infrastructure Financing Authority (OMEIFA), focused on supporting municipal infrastructure through affordable financing. In 2004, the Ontario Strategic Infrastructure Financing Authority (OSIFA) expanded the program’s reach to include non-municipal borrowers. In 2006, OSIFA merged with IO, streamlining access to funding and making loans available to all Ontario municipalities year-round. This evolution laid the foundation for a more inclusive and impactful lending model.

Delivering on Ontario’s Vision

White residential building in an intersection with tall buildings
Toronto Community Housing Corporation (TCHC)
“I am extremely proud of the role that IO’s Lending business plays across Ontario, and the confidence that our partners continue to show in IO and the Lending team. It’s a testament to the service and solution orientation of our Lending, Credit and Treasury teams, who work tirelessly to deliver on client needs while carefully managing risk.”
– Jo-Shan Feng, Vice President, Loan Operations

Looking ahead, IO remains committed to helping public sector partners navigate financial and construction challenges. Whether for long-term care home redevelopment, housing-enabling water infrastructure, or community-based projects, IO continues to support the building of resilient, inclusive, and thriving communities across Ontario.

Interested in learning more about IO’s lending success stories? View our client profiles.