First Nations Finance Authority is the solution to meeting economic reconciliation targets

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Finance News

Indigenous Relations,Infrastructure And Transport

The Hill Times

It’s no secret that Canada is not on track to meet its commitment to close the infrastructure gap for First Nations by 2030 through current delivery mechanisms and policy approaches. In fact, the auditor general’s reports released in March 2024 served to reinforce the enormous chasm between First Nations and non-Indigenous communities in Canada—which is exacerbated by the traditional cash-based, pay-as-you-go approach. Ernie Daniels is president and CEO of the First Nations Finance Authority.

could issue a $2.5-billion debenture monetized over 20 years so First Nations could build 8,000 houses right now. It’s the same process used by municipalities and provinces, and it makes taxpayer funds go a lot farther. . Since its first debenture issue in 2014, , particularly if new revenue streams using traditional lands and resources were allowed. But we can help on other fronts to accelerate economic development too: Loan Guarantees: The 2024 federal budget earmarked up to $5-billion in loan guarantees to help Indigenous communities become equity partners in large natural resource and energy projects.

 

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