Feds offer $5B in Indigenous loan guarantees, fall $420B short on infrastructure asks

The federal government is providing up to $5 billion in loan guarantees to help Indigenous communities invest in natural resource and energy products. But when it comes to a promise to close what advocates say is a sprawling Indigenous infrastructure gap, Ottawa is short more than $420 billion. Teased in last year’s fall economic statement, the Indigenous loan guarantee in the 2024 budget allows communities to decide which projects to invest in. The loans would be guaranteed by the federal government, ensuring Indigenous borrowers can get more favourable interest rates. First Nations business leaders have long called for an Indigenous loan program to allow for investments in oil and gas projects. The First Nations Major Projects Coalition anticipates Indigenous participation in the natural resource and energy sector could reach $525…

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