The Canada Infrastructure Bank confirmed it has agreed to provide BC Ferries with up to $1 billion in low-interest financing—$690 million for four new hybrid battery-electric vessels and $310 million for associated shore-side electrification. The loan, signed on 28 March at roughly 1.8 per cent, is intended to help modernise one of the world’s largest ferry networks while easing future fare pressure, according to both the bank and BC Ferries. BC Ferries awarded the construction contract to China Merchants Industry Weihai Shipyards after a five-year procurement that drew no Canadian bids. The decision has stirred controversy because it channels federal financing to a Chinese state-owned yard at a time when Ottawa is urging greater support for domestic manufacturing and is embroiled in trade disputes with Beijing. Opposition lawmakers argue the deal exports jobs and public money overseas. On 7 July, the all-party House of Commons transport committee unanimously backed a motion from Conservative MP Dan Albas to study the loan agreement and the procurement process behind it. The committee intends to call Transport Minister Chrystia Freeland—who had earlier condemned the Chinese order—along with Housing and Infrastructure Minister Gregor Robertson and the chief executives of BC Ferries and the Canada Infrastructure Bank. Hearings are to begin within 30 days and will examine whether security, trade and industrial-policy considerations were properly weighed before the loan was approved.