Madam Speaker, the member for Saskatoon West points out some of the housing challenges that Canada faces. These challenges are well known to our government, which is why, from day one of our mandate, we made it a top priority to ensure that more Canadians have a safe, affordable place to call home. We began funding solutions to these problems from our very first budget in 2016.
Canadians do not have to wait for results. We have invested $5.7 billion to date and have improved housing for close to one million families. This includes young families, seniors, women and children fleeing domestic violence, indigenous peoples, persons with disabilities, persons with mental health and addiction issues, veterans and young adults. At the same time as we were responding to immediate housing needs, we have begun delivering a comprehensive long-term plan, Canada's first-ever national housing strategy.
Many of the main initiatives of this 10-year, $40-billion plan were rolled out last spring. New homes and shelters are already being built and existing homes are being repaired and renovated.
We have launched an updated and expanded homelessness strategy with dedicated funding for indigenous homelessness and more flexibility for communities to develop solutions that meet their needs. We are also investing in better data to get a clearer picture of the issues across Canada and to develop innovative solutions.
We are working in close collaboration with the provinces and territories, with seven bilateral agreements in place and others well under way. These agreements are unlocking further investments for housing, like direct benefits for low-income Canadians and funding to stabilize community housing.
Finally, I want to take a moment to specifically address my colleague's comments regarding indigenous housing. In February, we announced $638 million in investments to ensure that indigenous peoples living in urban, rural and northern communities have better housing outcomes now and for generations to come.
One-third of this funding will be delivered through the Canada community housing initiative as part of the bilateral agreements. It will help preserve and improve the condition of community housing units for urban indigenous families living in cities or urban centres across the country. Two-thirds of the funding will address indigenous homelessness. This represents an increase of almost 70% in dedicated indigenous funding for homelessness. The funds will be delivered through Canada's new homelessness strategy, “Reaching Home”, which I mentioned earlier.
A part of this funding will also flow through the national housing co-investment fund, which will lead to more indigenous housing projects, new and renovations, whether they are projects to create new homes or to repair and modernize existing ones.
Finally, we are also working closely with our indigenous partners to finalize distinction-based housing strategies. These first nations, Inuit and Métis strategies will address the unique needs of their communities and they are backed by a significant investment of $1.5 billion.
I am extremely proud of the work that we have achieved, but we know that there is much more work to be done. To keep that momentum strong, we need to keep housing on the agenda for the long term. That is why we will soon be tabling legislation to protect the national housing strategy.
The legislation will include measures to ensure accountability and to ensure that those most affected by Canada's housing challenges continue to have a strong voice in solutions going forward. It has strong support from Canadians across the country.
I hope we can also count on the support of members from both sides of the House for the legislation. We have an opportunity to make a lasting change for housing in Canada, a change that will create a strong economy and strong communities, where everyone in Canada has a safe and affordable place to call home.