Unlocking Canada’s Future: First Nations as Economic Partners – FNFA

As originally published in the Hill Times on Monday October 20, 2025

It’s time to correct a common misconception: granting First Nations Finance Authority (FNFA) the ability to finance Special Purpose Vehicles (SPVs) is not about giving First Nations a competitive edge—it’s about leveling the playing field.

Under the current framework, municipalities and other public entities routinely use SPVs to finance infrastructure and economic development. First Nations, however, are constrained by outdated provisions of the Indian Act, which limit their ability to participate in these same opportunities. FNFA’s capacity to finance SPVs simply allows First Nations to access the same tools others already use. This is not preferential treatment, it’s parity.

More broadly, this issue underscores the critical role of the First Nations Fiscal Management Act (FNFMA) institutions. These institutions—FNFA, the First Nations Tax Commission, the First Nations Infrastructure Institute, and the First Nations Financial Management Board—are not only pillars of Indigenous fiscal empowerment, but also models of good governance, accountability, and economic development. Their success benefits all Canadians by fostering stronger, self-sustaining communities and reducing reliance on federal transfers.

Read More: https://www.fnfa.ca/en/unlocking-canadas-future/