Federal Expansion of Indigenous Loan Guarantee Program a “Critical Step” in Economic Reconciliation: FNMPC – NetNewsLedger
March 25, 2025
THUNDER BAY – POLITICS 2.0 — The First Nations Major Projects Coalition (FNMPC) has welcomed the federal government’s decision to double the funding authority of the Canada Indigenous Loan Guarantee Corporation from $5 billion to $10 billion and expand its mandate beyond the natural resource sector. The move, announced ahead of the federal election call, marks a significant stride toward advancing Indigenous economic participation, equity partnerships, and reconciliation—with key implications for Thunder Bay and Northern Ontario’s infrastructure and resource development landscape.
Under the expanded Indigenous Loan Guarantee Program (ILGP), eligible First Nations can now pursue equity ownership in not only energy, mining, and forestry projects, but also in major infrastructure, transportation, and trade initiatives—sectors critical to Northwestern Ontario’s growth.
“This initiative is exactly what is required to build a more resilient economy and continue in the right direction on our shared path of economic reconciliation,” said Sharleen Gale, Executive Chair of FNMPC’s Board. “A flexible, sector-agnostic approach ensures that First Nations can invest in the projects that align with their interests and values as rights-holders.”
