The Government of Canada's 2023 Fall Economic Statement introduced plans for a Federal Indigenous Loan Guarantee Program, more details of which are expected to be outlined in the federal budget this Spring. In the meantime, it is worth noting that there are already three indigenous loan guarantee programs in place in Canada in the provinces of Alberta, Saskatchewan, and Ontario. In Alberta, the Alberta Indigenous Opportunities Corporation provides funding for projects with a minimum value of $20 million and is accessible to Alberta-based Indigenous Groups for investments in sectors such as natural resources, agriculture, telecommunications, transportation and related infrastructure. Saskatchewan's program is provided by the Saskatchewan Indigenous Investment Finance Corporation and is tailored towards projects in natural resource development, value-added agriculture and related infrastructure, valued over $5 million. Lastly, in Ontario, the Aboriginal Loan Guarantee Program was specifically designed to support the creation of new renewable energy infrastructure and other electricity infrastructure projects on projects over $5 million and up to $50 million per project. Please see the summary prepared by McCarthy Tétrault for more information on these programs and keep an eye out for further updates from our energy group on the Federal Indigenous Loan Program once more information becomes available.
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