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ARTICLE · 13 MAY 2024

Canada To Provide $5 Billion In Loan Guarantees Through Indigenous Loan Guarantee Program

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The Government of Canada recently released the 2024 federal budget ("Budget 2024"), which includes various new and ongoing commitments by it with the aim of supporting economic reconciliation.

CanadaGovernment, Public Sector
Billie Fortier
Billie Fortier
Chris Nyberg
Chris Nyberg
Thomas Collopy
Thomas Collopy
Stephanie Symonds-D’Arcey
Stephanie Symonds-D’Arcey
Reagan Munro
Reagan Munro
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The Government of Canada recently released the 2024 federal budget ("Budget 2024"), which includes various new and ongoing commitments by it with the aim of supporting economic reconciliation.

Specifically, Budget 2024 provides additional details regarding the promised Indigenous Loan Guarantee Program ("ILGP"), which was first introduced in the Government's 2023 Fall Economic Statement. The ILGP will provide up to $5 billion in loan guarantees to support the participation of Indigenous communities in energy and natural resource projects in Canada.

Indigenous communities often face roadblocks in accessing affordable capital due to restrictions on leveraging existing assets as collateral, which impacts communities' abilities to borrow money. As a result, communities are often either unable to access capital, or capital is provided at a higher cost. Government guarantees such as the ILGP significantly improve access to capital and reduce the associated cost for

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