Earlier this year, the federal government began negotiations aimed at selling a stake in Trans Mountain to First Nations
. Mr. Ebel said federal loan guarantees would help Indigenous groups acquire a meaningful stake in the project, while paying back taxpayers.
Last week, the First Nations Major Projects Coalition, which represents more than 130 Indigenous groups, and the Business Council of Canada held a conference focused in part on the need for a federal loan guarantee program. At the time, a spokesperson for Finance Ministerdeclined to comment on the concept, while pointing out Ottawa already offers funding for Indigenous investments through the Canada Infrastructure Bank and First Nations Finance Authority.
CEOs such as Mr. Ebel and industry groups are lobbying for government loan guarantees in part because the federal Indian Act bans First Nations from owning the land on their own reserves, which restricts their ability to borrow.
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