Feds offer $5B in Indigenous loan guarantees, fall $420B short on infrastructure asks

But when it comes to a promise to close what advocates say is a sprawling Indigenous infrastructure gap, Ottawa is short more than $420 billion.

The First Nations Major Projects Coalition anticipates Indigenous participation in the natural resource and energy sector could reach $525 billion in capital investments over the next 10 years.But the federal Indian Act doesn't allow First Nations to put up their land or other assets as collateral, making financing harder to secure.

Last year, Ottawa committed to lending affordable capital to Indigenous communities through the Canada Infrastructure Bank to help them purchase equity stakes in infrastructure projects in which the bank is also investing. Assembly of First Nations national chief Cindy Woodhouse Nepinak, while welcoming the Indigenous loan guarantee and investments in education, income assistance and targeting racism in the health-care system, said the federal government still needs to do better.

To bring Indigenous infrastructure in line with the rest of the country would require an additional $135 billion for housing, $5 billion for digital connectivity and another $209 billion for other infrastructure, the report found. That amount includes $426 million for First Nations on reserve, $370 million for Inuit communities and $60 million for Métis communities.

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Feds offer $5B in Indigenous loan guarantees, fall $420B short on infrastructure asksThe federal government is providing up to $5 billion in loan guarantees to help Indigenous communities invest in natural resource and energy products. But when it comes to a promise to close what advocates say is a sprawling Indigenous infrastructure gap, Ottawa is short more than $420 billion.
Fonte: CTVNews - 🏆 1. / 99 Leggi di più »