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Economic reconciliation means no green strings attached – Canada’s National Observer

April 17th 2024

The Indigenous loan guarantee program will have no green strings attached, opening opportunities for controversial development like oil, gas and nuclear projects.

Details of the program, announced in Tuesday’s federal budget, answer questions dogging the program since it was announced last fall in a mini-budget.

The federal Indigenous loan guarantee program will be worth up to $5 billion and will be “sector agnostic,” meaning any sector can be developed, the latest budget revealed.

A finance official told Canada’s National Observer that the decision reflects Ottawa’s commitment to economic reconciliation and self-determination. In practice, the decision avoids telling Indigenous groups how they must pursue their economic development, which historically was the case.

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