FCM Green Municipal Funds
In order to enable access to this source of low-cost funding, the NSMFC has agreed to administer FCM Green Municipal Funds loans on behalf of Nova Scotia municipalities.
Nova Scotia legislation restricts where municipalities can borrow. Under S.16 of the Municipal Finance Corporation Act, municipalities can borrow only from the NSMFC, the provincial government and its agencies, and the federal government and its agencies.
Borrowings from the FCM Green Municipal Funds are subject to the same legislative and approval processes as all other debentures issued by the NSMFC.
- The NSMFC will facilitate and participate in loans to municipalities from the Federation of Canadian Municipalities Green Municipal Fund, where funding is available at below-market rates for projects meeting established criteria.