{"id":474808,"date":"2021-04-12T10:03:19","date_gmt":"2021-04-12T14:03:19","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/scotiabank-targets-10-billion-commitment-in-support-of-affordable-housing-in-canada\/"},"modified":"2021-04-12T10:03:19","modified_gmt":"2021-04-12T14:03:19","slug":"scotiabank-targets-10-billion-commitment-in-support-of-affordable-housing-in-canada","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/scotiabank-targets-10-billion-commitment-in-support-of-affordable-housing-in-canada\/","title":{"rendered":"Scotiabank targets $10 Billion commitment in support of affordable housing in Canada"},"content":{"rendered":"
\n

Canada NewsWire<\/p>\n<\/p><\/div>\n

\n

\n TORONTO<\/span>, April 12, 2021<\/span> \/CNW\/ – Scotiabank today announced that it is the first large financial institution in Canada<\/span> to align with Canada Mortgage and Housing Corporation (CMHC) to transform housing affordability across the country. Scotiabank plans to mobilize $10 billion<\/span> over the next ten years in support of CMHC’s aspiration \u2013 that by 2030, everyone in Canada<\/span> has a home they can afford and that meets their needs.\u00a0\u00a0 <\/p>\n

“We are facing a clear shortage of affordable housing in Canada<\/span> and Scotiabank is proud to work with CMHC to raise that supply,” said Jake Lawrence<\/span>, CEO and Group Head of Global Banking and Markets at Scotiabank. “Scotiabank is committed to developing innovative lending, investing and underwriting solutions for retail, commercial and corporate clients who support the achievement of this important housing objective in Canada<\/span>.”<\/p>\n

As Canada’s<\/span> authority on housing, CMHC is delivering the National Housing Strategy \u2013 a $70+ billion, 10-year federal investment in housing with additional funding committed by the provinces and territories. <\/p>\n

“Governments alone can’t solve Canada’s<\/span> housing challenges. The private sector also has a key role to play in supporting shared objectives of building strong, vibrant communities. We’re pleased to have Scotiabank join us in our efforts to create a new generation of housing in Canada<\/span>. Safe and affordable housing is a basic need to creating a more inclusive society where everyone has the opportunity to be well and succeed,” said Romy Bowers<\/span>, President and CEO, CMHC.<\/p>\n

Scotiabank’s Sustainable Finance Group – a Global Banking and Markets team that offers sustainable finance solutions to corporate, financial, public sector and institutional clients across our global footprint\u2013\u00a0was formed in 2020 to bolster Scotiabank’s leadership in Environmental, Social and Governance\u00a0(ESG) issues, offering integrated, superior solutions to our clients’ evolving sustainable finance and ESG requirements. <\/p>\n

Scotiabank’s collaboration with\u00a0CMHC to address housing affordability is aligned to\u00a0ScotiaRISE<\/a>, Scotiabank’s global community investment\u00a0initiative to promote economic resilience among disadvantaged groups. Through ScotiaRISE, Scotiabank will support programs and partner with organizations across its footprint that provide the tools people need to improve their education and employment prospects, adapt to changing circumstances, and increase the likelihood of financial success.<\/p>\n

“Our commitment in support of CMHC’s aspiration is another way that Scotiabank is working to build economic resilience for the future,” said Mr. Lawrence. “By removing barriers to advancement and increasing access to opportunities, we are helping to create a more inclusive and resilient world.”<\/p>\n

\n About Scotiabank
<\/b>Scotiabank is a leading bank in the Americas. Guided by our purpose: “for every future”, we help our customers, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of approximately 90,000 employees and assets of approximately $1.2 trillion<\/span> (as at January 31, 2021<\/span>), Scotiabank trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit http:\/\/www.scotiabank.com<\/a>\u00a0and follow us on Twitter @ScotiabankViews.<\/p>\n

\n About CMHC<\/b>\n <\/p>\n

As Canada’s<\/span> authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers unbiased housing research and advice to all levels of Canadian government, consumers and the housing industry. CMHC’s aim is that by 2030, everyone in Canada<\/span> has a home they can afford, and that meets their needs. For more information, follow us\u00a0on\u00a0Twitter<\/a>,\u00a0Instagram<\/a>,\u00a0YouTube<\/a>,\u00a0LinkedIn<\/a>\u00a0and\u00a0Facebook<\/a>.\u00a0<\/p>\n

To find out more about the National Housing Strategy, please visit www.placetocallhome.ca<\/a>.<\/p>\n

SOURCE Scotiabank<\/p>\n<\/p><\/div>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

Canada NewsWire TORONTO, April 12, 2021 \/CNW\/ – Scotiabank today announced that it is the first large financial institution in Canada to align with Canada Mortgage and Housing Corporation (CMHC) to transform housing affordability across the country. Scotiabank plans to mobilize $10 billion over the next ten years in support of CMHC’s aspiration \u2013 that by 2030, everyone in Canada has a home they can afford and that meets their needs.\u00a0\u00a0 “We are facing a clear shortage of affordable housing in Canada and Scotiabank is proud to work with CMHC to raise that supply,” said Jake Lawrence, CEO and Group Head of Global Banking and Markets at Scotiabank. “Scotiabank is committed to developing innovative lending, investing and underwriting solutions for … <\/p>\n

Continue reading “Scotiabank targets $10 Billion commitment in support of affordable housing in Canada”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-474808","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nScotiabank targets $10 Billion commitment in support of affordable housing in Canada - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/scotiabank-targets-10-billion-commitment-in-support-of-affordable-housing-in-canada\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Scotiabank targets $10 Billion commitment in support of affordable housing in Canada - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Canada NewsWire TORONTO, April 12, 2021 \/CNW\/ – Scotiabank today announced that it is the first large financial institution in Canada to align with Canada Mortgage and Housing Corporation (CMHC) to transform housing affordability across the country. Scotiabank plans to mobilize $10 billion over the next ten years in support of CMHC’s aspiration \u2013 that by 2030, everyone in Canada has a home they can afford and that meets their needs.\u00a0\u00a0 “We are facing a clear shortage of affordable housing in Canada and Scotiabank is proud to work with CMHC to raise that supply,” said Jake Lawrence, CEO and Group Head of Global Banking and Markets at Scotiabank. “Scotiabank is committed to developing innovative lending, investing and underwriting solutions for … Continue reading "Scotiabank targets $10 Billion commitment in support of affordable housing in Canada"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/scotiabank-targets-10-billion-commitment-in-support-of-affordable-housing-in-canada\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-12T14:03:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=C1878&Transmission_Id=202104121000CANADANWWEB______C1878&DateId=20210412\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/scotiabank-targets-10-billion-commitment-in-support-of-affordable-housing-in-canada\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/scotiabank-targets-10-billion-commitment-in-support-of-affordable-housing-in-canada\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Scotiabank targets $10 Billion commitment in support of affordable housing in Canada\",\"datePublished\":\"2021-04-12T14:03:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/scotiabank-targets-10-billion-commitment-in-support-of-affordable-housing-in-canada\\\/\"},\"wordCount\":597,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/scotiabank-targets-10-billion-commitment-in-support-of-affordable-housing-in-canada\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/rt.prnewswire.com\\\/rt.gif?NewsItemId=C1878&Transmission_Id=202104121000CANADANWWEB______C1878&DateId=20210412\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/scotiabank-targets-10-billion-commitment-in-support-of-affordable-housing-in-canada\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/scotiabank-targets-10-billion-commitment-in-support-of-affordable-housing-in-canada\\\/\",\"name\":\"Scotiabank targets $10 Billion commitment in support of affordable housing in Canada - 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