The infrastructure gap between First Nations and the rest of Canada continues to expand with each passing year. Find out more.
The Trudeau government has pledged to close the gap by 2030 as outlined in the prime minister’s December, 2021 mandate letter to Indigenous Services Minister Patty Hajdu. However, a new report prepared jointly by the Assembly of First Nations and Indigenous Services Canada and referenced at a recent AFN panel discussion puts the infrastructure gap at a staggering $349.2 billion.
The organization that I represent, First Nations Finance Authority , believes there is a better way to fund infrastructure. A way that works with First Nations as partners rather than the colonial approach that’s rooted in the almost 150-year-old Indian Act.Article content All FNFA loans are supported by existing revenue streams of our qualified First Nations borrowers, and we have never had a default.Article content
As an example, if Canada were to set aside $200 million in the next budget, that annual investment leveraged over 20 years would allow FNFA to issue a $3.6-billion debenture. This would put shovels in the ground to build 12,000 homes now rather than at inflated costs in the future.Article content
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