The Ontario government has announced it is investing up to $1 billion in loans to provide municipalities with more financing options for water infrastructure projects that enable the construction of more homes.

According to a release, the new Housing-Enabling Water Infrastructure (HEWI) lending stream, under Infrastructure Ontario’s (IO) Loan Program, will support the construction, expansion and rehabilitation of drinking water, wastewater and stormwater infrastructure projects. IO will begin accepting applications from municipalities on Dec. 2.