The Canada Infrastructure Bank (CIB), a federal Crown corporation, provided $1 billion in low-interest financing to BC Ferries to support its procurement of four new electric vessels from Chinese state-owned shipyard China Merchants Industry Weihai Shipyards, along with related terminal charging infrastructure to advance fleet electrification and emissions reduction. The financing, which reached financial close on March 28, 2025, is structured in two tranches, allocating up to $690 million toward the new vessels and up to $310 million toward electrification infrastructure. Norton Rose Fulbright Canada acted as legal advisor to the Canada Infrastructure Bank, with a team led by Douglas Buchanan, David Bain, and Michael Posnikoff.