THUNDER BAY – POLITICS 2.0 — The First Nations Major Projects Coalition (FNMPC) has welcomed the federal government’s decision to double the funding authority of the Canada Indigenous Loan Guarantee Corporation from $5 billion to $10 billion and expand its mandate beyond the natural resource sector. The move, announced ahead of the federal election call, marks a significant stride toward advancing Indigenous economic participation, equity partnerships, and reconciliation—with key implications for Thunder Bay and Northern Ontario’s infrastructure and resource development landscape.
Under the expanded Indigenous Loan Guarantee Program (ILGP), eligible First Nations can now pursue equity ownership in not only energy, mining, and forestry projects, but also in major infrastructure, transportation, and trade initiatives—sectors critical to Northwestern Ontario’s growth.
“This initiative is exactly what is required to build a more resilient economy and continue in the right direction on our shared path of economic reconciliation,” said Sharleen Gale, Executive Chair of FNMPC’s Board. “A flexible, sector-agnostic approach ensures that First Nations can invest in the projects that align with their interests and values as rights-holders.”
Demand for Capital Far Exceeds Original Program Scope
FNMPC previously projected that the ILGP’s original $5 billion fund would be oversubscribed, as an estimated $630 billion in capital investment is expected across major energy, mining, and forestry projects over the next decade—before even considering transportation or trade infrastructure. To support meaningful First Nations equity participation in these ventures, the Coalition estimates over $50 billion in loan guarantees could be required.
By expanding the program and doubling its capacity, the Government of Canada is helping Indigenous communities overcome a major barrier to capital access, allowing them to secure ownership stakes in projects that affect their lands, economies, and futures.
“First Nations will play an essential role in making sure Canada’s major projects are developed efficiently, sustainably, and to the benefit of all Canadians,” said Mark Podlasly, FNMPC CEO. “Whether it’s energy corridors, rail lines, or port expansions—First Nations must be partners, not bystanders.”
Implications for Northern Ontario
For Thunder Bay and Northwestern Ontario, this expanded mandate could open the door to greater Indigenous ownership in regional infrastructure and energy projects—from highway expansions and clean energy corridors to transport and logistics hubs along Lake Superior. With mining exploration accelerating in the Ring of Fire, local First Nations could now be better positioned to invest in the transportation infrastructure needed to connect these resources to global markets—on terms that prioritize Indigenous stewardship and benefit-sharing.
A Non-Partisan Commitment to Progress
FNMPC emphasized its non-partisan stance ahead of the federal election, reaffirming its focus on long-term, structural change regardless of political outcomes.
“This program’s expansion aligns with the United Nations Declaration on the Rights of Indigenous Peoples,” FNMPC stated. “It’s not about politics—it’s about building equitable partnerships that reflect Indigenous rights and generate long-term prosperity.”
The original ILGP was announced in 2023 as a $5 billion initiative to help First Nations secure ownership stakes in resource projects. FNMPC, which has long advocated for this kind of access-to-capital support, helped shape the program through years of research and policy engagement.
