Canada Development Investment Corporation: Indigenous Loan Guarantee Program Launched to Accelerate Economic Reconciliation

Indigenous Loan Guarantee Program Launched to Accelerate Economic Reconciliation

Toronto, December 17, 2024 – As announced in the 2024 Fall Economic Statement, the Canada Indigenous Loan Guarantee Corporation, a newly established subsidiary of the Canada Development Investment Corporation (CDEV), officially launched the Indigenous Loan Guarantee Program yesterday. This program is a major initiative that will unlock up to $5 billion in loan guarantees to support Indigenous ownership in Canada's natural resource and energy projects, lowering financial barriers and offering a pathway to long-term prosperity and economic self-reliance.

Due to the Indian Act and the legacy of colonialism, Indigenous groups face significant challenges in securing capital and leveraging assets. This program is designed to bridge this gap, offering Indigenous groups a financial solution that lowers borrowing costs and improves lending terms, enabling them to participate in projects that generate long-term economic benefits.

"The Canada Indigenous Loan Guarantee Corporation is committed to fostering a path to prosperity that respects the unique needs and priorities of Indigenous communities," said Elizabeth Wademan, CEO of CDEV. "This program empowers Indigenous groups to participate in Canada's economic future, to build prosperity within their communities, and to create opportunities that will benefit generations to come."

For more information about the Indigenous Loan Guarantee Program, eligibility requirements, and application process, please visit www.cilgc-cpgac.ca

Canada Development Investment Corporation

Thomas Chanzy, Vice President and Head, Communications and Public Affairs

thomas.chanzy@cdev.gc.ca

416 966 2926

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