A senior Enbridge exec has urged the creation of a federal loan guarantee program for Indigenous groups for better partnerships. Read on.
Cynthia Hansen, executive vice-president responsible for Enbridge’s natural gas pipeline and midstream business across North America, said most Indigenous groups did not have access to capital due to the absence of loan guarantees from the government, which prevents them from acquiring equity in projects that are often operated on their traditional lands.“It’s not enough to consult with Indigenous groups,” the Texas-based executive said at an event in Toronto last week.
These “creative” methods to get financial support aren’t enough, according to Hansen. She said Ottawa should formulate a national approach to allow communities to choose what they want to invest in.Associations such as the First Nations Major Project Coalition, which represents more than 130 Indigenous groups, have been pushing for a loan guarantee program.
The government’s budget last year allocated more than $100 million over five years to renew and expand the Indigenous Partnerships Office and Indigenous Natural Resource Partnerships Program. The government aims to fund Indigenous projects through these programs. “There is currently no one lending facility that will address that need,” he said. “If Canada wishes to meet its 2030 and 2050 targets, there is a massive infrastructure spend out there that is necessary … all of that crosses Indigenous territory.”Chief Sharleen Gale, who chairs the coalition, said the Indian Act bars First Nations from borrowing against their assets and land.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
48 books by Indigenous writers to read to understand residential schoolsDavid A. Robertson curated this list of fiction, nonfiction, poetry and children's books, all which explore the legacy and impact of the residential school system.
Read more »
Indigenous student hopes to be part of change in health-care systemWatch Indigenous student hopes to be part of change in health-care system Video Online, on GlobalNews.ca
Read more »
Residential school ‘denialists’ forcing some Indigenous communities to hire security for gravesitesWatch Residential school ‘denialists’ forcing some Indigenous communities to hire security for gravesites Video Online, on GlobalNews.ca
Read more »
Kingston, Ont., Indigenous community marks third annual Truth and Reconciliation DayMembers of Kingston's Indigenous community came together on Saturday to mark the third annual National Day of Truth and Reconciliation.
Read more »
Indigenous police officer hopes to inspire with trilingual 'O Canada' at Blue Jays gameSgt. Chantal Larocque hopes that singing “O Canada” in English, French and Algonquin at Rogers Centre before a Toronto Blue Jays game will open everyone's eyes to the possibilities of creating a more inclusive game experience.
Read more »