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Varcoe: Ottawa includes energy projects in new $5B Indigenous Loan Guarantee Program – MSN

Less than five years ago, Alberta set up a loan guarantee program that has now seen Indigenous communities invest more than $1.5 billion and buy ownership stakes in major energy developments across the province.

It’s about to be joined by Ottawa.

In Tuesday’s federal budget, Finance Minister Chrystia Freeland   unveiled details of a new Indigenous Loan Guarantee Program, which was first discussed by the Liberal government last year.

The federal program will provide up to $5 billion in loan guarantee capacity to “unlock access to capital for Indigenous communities, creating economic opportunities and supporting their economic development priorities,” according to the budget.

Oil and natural gas projects and other natural resource developments will be eligible.

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