Federal lending agency is the latest to introduce an Indigenous Procurement Program
Farm Credit Canada has rolled out its new Indigenous Procurement Policy to ensure that Indigenous vendors across Canada have a fair opportunity to bid on supply contracts for the Crown corporation.
As an agency of the federal government, the FCC is beholden to a number of trade agreements when it comes to sourcing products, he said. That’s in response to recommendation #92 stemming from the final report of the Truth and Reconciliation Commission of Canada, which calls for greater equality for Indigenous peoples in accessing opportunities in business, training and education.
“We put a lot of time and effort in ensuring that we were going down a path that others before us have gone,” said Dundas, pointing to organizations like Canada Post and SaskPower, which have developed strong Indigenous procurement programs in the past.Under the new policy, any contract worth an estimated $200,000 or more requires a competitive bidding process, Dundas said, for which the FCC would issue a request for proposals.
He noted that the FCC debated whether vendors would be required to prove their Indigenous identities. In the end, the agency decided in favour of it, following consultation with Indigenous businesses and people. Though the current Indigenous procurement target set out by the federal government is five per cent of all spending, Dundas doesn’t expect that number to remain stagnant. Once they reach that milestone, they’ll reevaluate the program and push it to eight per cent, before reevaluating it again.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Indigenous Leaders: ‘It really starts with building new relationships,’ says Farm Credit CanadaFederal lending agency is the latest to introduce an Indigenous Procurement Program
Read more »
Patriarch of Canada's largest family-owned egg farm dies at 94Joe Hudson poses with some of his hens' eggs outside Burnbrae Farms in Lyn, Ont. Hudson, who took the farm from an eastern Ontario business to one with nationwide scope, died on March 14, 2024, at the age of 94.
Read more »
Canada’s AAA Credit Rating at Risk From Deeper Deficit, RBC Says(Bloomberg) -- Canada is at greater risk of losing its AAA credit rating than other top-rated countries if the government fails to show fiscal discipline...
Read more »
Canada’s AAA Credit Rating at Risk From Deeper Deficit, RBC SaysCanada is at greater risk of losing its AAA credit rating than other top-rated countries if the government fails to show fiscal discipline, Royal Bank of Canada has warned on the eve of Finance Minister Chrystia Freeland’s new budget.
Read more »
The National Ballet of Canada’s winter program brings productions not seen before in CanadaWith UtopiVerse, William Yong becomes the first choreographer of Asian descent to create a mainstage work for the company
Read more »
Man claiming $34M in false donations gets 3 years behind barsThe Canada Revenue Agency implemented and oversees the Canada Emergency Wage Subsidy program.
Read more »