Columbia Basin Trust was created by the ''Columbia Basin Trust Act'' (British Columbia) in 1995 to benefit the region most adversely affected by the Columbia River Treaty (CRT), in the

Canadian province Within the geographical areas of Canada, the ten provinces and three territories are sub-national administrative divisions under the jurisdiction of the Canadian Constitution. In the 1867 Canadian Confederation, three provinces of British Nor ...

British Columbia British Columbia (commonly abbreviated as BC) is the westernmost province of Canada, situated between the Pacific Ocean and the Rocky Mountains. It has a diverse geography, with rugged landscapes that include rocky coastlines, sandy beaches, for ...

. The CRT, ratified by the

United States The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country Continental United States, primarily located in North America. It consists of 50 U.S. state, states, a Washington, D.C., ...

and

Canada Canada is a country in North America. Its ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, covering over , making it the world's second-largest country by to ...

in 1964, led to the construction of three storage dams in the Basin (the

Duncan Duncan may refer to: People * Duncan (given name), various people * Duncan (surname), various people * Clan Duncan * Justice Duncan (disambiguation) Places * Duncan Creek (disambiguation) * Duncan River (disambiguation) * Duncan Lake ...

, Keenleyside and

Mica Micas ( ) are a group of silicate minerals whose outstanding physical characteristic is that individual mica crystals can easily be split into extremely thin elastic plates. This characteristic is described as perfect basal cleavage. Mica is ...

dams) and one in Montana ( Libby Dam). The purpose of these dams was flood control and

power production Electricity generation is the process of generating electric power from sources of primary energy. For utilities in the electric power industry, it is the stage prior to its delivery (transmission, distribution, etc.) to end users or its storag ...

in both countries. Most of the benefits of the CRT were enjoyed by areas outside the Basin while most of the negative effects were, and still are, felt by the Basin. There was a lack of prior consultation with the people of the Basin, including the 2,300 residents who were displaced by flooding of their communities and farms. The people of the Basin came together in the early 1990s to press the Province for recognition of the injustice of this situation. Local governments in the Basin coordinated their efforts at the regional district and tribal council level under the Columbia River Treaty Committee, which first met in 1992. The Committee, in partnership with elected officials from the region, negotiated with the Province. They had two objectives: # The creation of a trust governed by a board of Basin residents. # The allocation to the region of funds representing a fair share of the ongoing downstream benefits earned under the CRT, to be managed by the trust. On both counts negotiations were successful and Columbia Basin Trust was formed. Columbia Basin Trust received a $295 million endowment by the Province. # $250 million is committed to finance power project construction. # As directed by Basin residents, $45 million is being reinvested for the benefit of Basin residents through short-term cash investments, business loans, real estate ownership, and venture capital projects. # In addition, Columbia Basin Trust receives $2 million per year from 1996 to 2012. The Province further committed to transfer $250 million to the Columbia Power Corporation (CPC), Columbia Basin Trust's Joint Venture Partner in power projects in the Basin. Fifty per cent of the net profits go to Columbia Basin Trust for the benefit of the people of the Basin. The income from the investments is being spent on social, economic and environmental benefits for the residents of the Basin. The Arrow Lakes generating station, jointly owned by Columbia Power Corporation and Columbia Basin Trust, won one of three Blue Planet prizes presented by the International Hydropower Association in 2005 for "social, environmental and technical excellence."

External links

Columbia Basin Trust
Official site.

References

{{British Columbia crown corporations Columbia River Crown corporations of British Columbia Interior of British Columbia