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type="search" class="et_pb_menu__search-input" placeholder="Search …" name="s" title="Search for:" /> </form> <button type="button" class="et_pb_menu__icon et_pb_menu__close-search-button"></button> </div> </div> </div> </div> </div> </div> </div> </div> </header> <div id="et-main-area"> <div id="main-content"> <article id="post-14479" class="post-14479 page type-page status-publish hentry"> <div class="entry-content"> <div class="et-l et-l--post"> <div class="et_builder_inner_content et_pb_gutters3"> <div class="et_pb_with_border et_pb_section et_pb_section_0 et_pb_with_background et_section_regular" > <div class="et_pb_row et_pb_row_0 et_pb_equal_columns et_pb_gutters2"> <div class="et_pb_column et_pb_column_4_4 et_pb_column_0 et_pb_css_mix_blend_mode_passthrough et-last-child"> <div class="et_pb_module et_pb_text et_pb_text_0 et_animated et_pb_text_align_left et_pb_bg_layout_light"> <div class="et_pb_text_inner"><h1><span>Indigenous Loan Guarantee Program</span></h1> <p><span></span></p></div> </div><div class="et_pb_module et_pb_text et_pb_text_1 et_animated et_pb_text_align_left et_pb_bg_layout_light"> <div class="et_pb_text_inner"><h2>In Budget 2024, the Minister of Finance announced the creation of an Indigenous Loan Guarantee Program that will be delivered by a new subsidiary of CDEV.</h2></div> </div> </div> </div><div class="et_pb_row et_pb_row_1 custom-img-overlay"> <div class="et_pb_column et_pb_column_4_4 et_pb_column_1 et_pb_css_mix_blend_mode_passthrough et-last-child et_pb_column_empty"> </div> </div> </div><div class="et_pb_section et_pb_section_1 et_section_regular" > <div class="et_pb_row et_pb_row_2"> <div class="et_pb_column et_pb_column_4_4 et_pb_column_2 et_pb_css_mix_blend_mode_passthrough et-last-child"> <div class="et_pb_module et_pb_text et_pb_text_2 et_pb_text_align_left et_pb_bg_layout_light"> <div class="et_pb_text_inner"><h2><strong>Objective</strong></h2></div> </div> </div> </div><div class="et_pb_row et_pb_row_3"> <div class="et_pb_column et_pb_column_4_4 et_pb_column_3 et_pb_css_mix_blend_mode_passthrough et-last-child"> <div class="et_pb_module et_pb_text et_pb_text_3 et_pb_text_align_left et_pb_bg_layout_light"> <div class="et_pb_text_inner"><p>Advance Indigenous participation in major projects, through the Indigenous Loan Guarantee Program, by providing more opportunities for Indigenous communities to benefit from the significant number of natural resource and energy projects proposed to take place in their territories.</p></div> </div><div class="et_pb_module et_pb_text et_pb_text_4 et_pb_text_align_left et_pb_bg_layout_light"> <div class="et_pb_text_inner"><h2><strong>Overview</strong></h2></div> </div><div class="et_pb_module et_pb_text et_pb_text_5 et_pb_text_align_left et_pb_bg_layout_light"> <div class="et_pb_text_inner"><p>Indigenous communities need to be able to share in the benefits of natural resource and energy projects in their territories and on their own terms. Due to the Indian Act and the legacy of colonialism, Indigenous communities have fewer options for securing capital or leveraging existing assets as collateral, leading to increased borrowing rates that create a barrier to equity investment in natural resource and energy projects.</p> <p>The number of major natural resource and energy projects with potential for Indigenous equity participation is anticipated to grow significantly, with the First Nations Major Projects Coalition鈥檚 research expecting this potential to reach $525 billion in capital investment over the next ten years. If Canada is to make sure that Indigenous communities are able to fully benefit from the opportunities ahead, they need fair access to affordable capital that meets their unique needs.</p></div> </div> </div> </div><div class="et_pb_row et_pb_row_4"> <div class="et_pb_column et_pb_column_4_4 et_pb_column_4 et_pb_css_mix_blend_mode_passthrough et-last-child"> <div class="et_pb_module et_pb_text et_pb_text_6 et_pb_text_align_left et_pb_bg_layout_light"> <div class="et_pb_text_inner"><h2><strong>Mandate</strong></h2></div> </div><div class="et_pb_module et_pb_text et_pb_text_7 et_pb_text_align_left et_pb_bg_layout_light"> <div class="et_pb_text_inner"><p>CDEV is mandated to set up a new subsidiary to provide due diligence on the applications and administer the portfolio of loan guarantees along with support of Natural Resources Canada for intake and capacity building.</p> <p>Building on the government鈥檚 2023 Fall Economic Statement commitment to help facilitate Indigenous equity ownership in major projects, Budget 2024 proposes to launch the Indigenous Loan Guarantee Program with the following parameters:</p> <p> </p> <ul> <li>Up to $5 billion in loan guarantees to unlock access to capital for Indigenous communities, creating economic opportunities and supporting their economic development priorities. <ul> <ul style="list-style-type: circle;"> <li>Applicant eligibility would recognize Indigenous governments, and their wholly owned and controlled entities.</li> <li>The program would be sector-agnostic for natural resource and energy projects to prioritize economic reconciliation and self-determination.</li> <li>The program would support projects across the country, and a range of project types, to ensure that Indigenous communities across the country benefit from the program.</li> </ul> </ul> </li> <li>Budget 2024 also proposes to provide $16.5 million over two years, starting in 2024-25, to Natural Resources Canada, including support for Indigenous groups and applicants and delivery of the Indigenous Loan Guarantee Program by CDEV. This investment will provide capacity building supports to assist eligible Indigenous groups in making applications for loan guarantees through the program.</li> </ul></div> </div><div class="et_pb_module et_pb_text et_pb_text_8 et_pb_text_align_left et_pb_bg_layout_light"> <div class="et_pb_text_inner"><h2><strong>What is an Indigenous Loan Guarantee?</strong></h2></div> </div><div class="et_pb_module et_pb_text et_pb_text_9 et_pb_text_align_left et_pb_bg_layout_light"> <div class="et_pb_text_inner"><p>The Indigenous Loan Guarantee Program will provide access to affordable capital to Indigenous governments and communities. Loans would be provided by financial institutions or other lenders and guaranteed by the Government of Canada. This means that the borrower would benefit from the government鈥檚 AAA credit ratings, delivering a lower interest rate than is available to most borrowers.</p></div> </div><div class="et_pb_module et_pb_text et_pb_text_10 et_pb_text_align_left et_pb_bg_layout_light"> <div class="et_pb_text_inner"><h2><strong>Contact</strong></h2></div> </div> </div> </div><div class="et_pb_row et_pb_row_5"> <div class="et_pb_column et_pb_column_4_4 et_pb_column_5 et_pb_css_mix_blend_mode_passthrough et-last-child"> <div class="et_pb_module et_pb_text et_pb_text_11 et_pb_text_align_left et_pb_bg_layout_light"> <div class="et_pb_text_inner"><p>The operating model that will govern the program is in the process of being developed. We are not accepting applications at this time, and further details will be released later this year.</p></div> </div><div class="et_pb_module et_pb_text et_pb_text_12 et_pb_text_align_left et_pb_bg_layout_light"> <div class="et_pb_text_inner"><h2><strong>Careers</strong></h2></div> </div><div class="et_pb_module et_pb_text et_pb_text_13 et_pb_text_align_left et_pb_bg_layout_light"> <div class="et_pb_text_inner"><p><span data-teams="true"><span class="ui-provider a b c d e f g h i j k l m n o p q r s t u v w x y z ab ac ae af ag ah ai aj ak" dir="ltr">Note that CDEV is currently hiring for several positions to assist with the program</span></span>. 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