The SA国际影视传媒渘ext stepsSA国际影视传媒� for a long-awaited Indigenous loan guarantee program will be announced in next yearSA国际影视传媒檚 federal budget, the Liberal government promised in its fall economic statement on Tuesday.

But industry groups and Indigenous leaders are still waiting for details on whether the program, which the fiscal update said would help communities invest in the natural resource sector, will facilitate equity ownership in oil and gas projects.

It is important for help to be available across all sectors, the First Nations Major Project Coalition said on Tuesday after the government promised to SA国际影视传媒渁dvance developmentSA国际影视传媒� of loan guarantees.

SA国际影视传媒淲e hope to see a program that ultimately seeks to respect the rights of First Nations to participate in projects on their lands, as they wish,SA国际影视传媒� said a statement from the coalition, a group of more than 130 Indigenous Nations working to ensure First Nations communities get a fair share of the benefits from projects that cross their territories.

A loan guarantee would protect lenders from potential defaults by including language that a third party SA国际影视传媒� in this case, the federal government SA国际影视传媒� would pay the bill should the borrower default.

Ottawa is promising SA国际影视传媒渢o increase access to the affordable capital that Indigenous communities will requireSA国际影视传媒� to make investment opportunities a reality.

But there were scant details in TuesdaySA国际影视传媒檚 budget update about how a program would work.

SA国际影视传媒淓veryone in Canada deserves to share in CanadaSA国际影视传媒檚 economic prosperity, and the clean economy opportunities that lie ahead offer new ways to advance economic reconciliation,SA国际影视传媒� the document said.

SA国际影视传媒淭he federal government is determined to ensure that Indigenous communities can share in the benefits of major projects in their territories on their own terms.SA国际影视传媒�

In its 2023 budget, the federal government committed to lending affordable capital to Indigenous communities through the Canada Infrastructure Bank, to help them purchase equity stakes in infrastructure projects in which the bank is also investing.

But the infrastructure bank is only mandated to invest in realms such as clean power, green infrastructure, broadband technology and transportation.

If the parameters for the Indigenous loan guarantee program are similar, the oil and gas industry could be left out, despite communitiesSA国际影视传媒� repeated calls for its inclusion.

Niilo Edwards, CEO of the First Nations Major Projects Coalition, argues that Indigenous communities are at a significant disadvantage when it comes to seeking financing through mainstream capital markets.

SA国际影视传媒淭he main reason is the Indian Act does not enable First Nations to use their land and other assets as collateral,SA国际影视传媒� Edwards said in a recent interview with The Canadian Press.

SA国际影视传媒淭his has historically precluded First Nations from participating in the mainstream of the economy, and therefore when our members are presented with these opportunities, they donSA国际影视传媒檛 have the level of at-risk capital required to secure a good interest rate.SA国际影视传媒�

According to the groupSA国际影视传媒檚 research, over the next decade, 470 major projects that affect Indigenous lands represent more than $525 billion of capital investment. They estimate $50 billion could be needed for Indigenous equity financing.

Indigenous loan guarantees are already available in Alberta, Saskatchewan and Ontario, but the lack of a federal program has led to criticism from industry and First Nations leaders that jurisdictional gaps prohibit economic development.

Kendall Dilling, president of Pathways Alliance SA国际影视传媒� a group that represents the largest oilsands companies in Canada SA国际影视传媒� referenced those provincial programs as a success for Indigenous ownership in oil and gas projects.

He said that in Alberta, specifically, there has been significant uptake in the loan program, especially in the oil and gas sector, and demand continues to grow.

SA国际影视传媒淚t really does change the narrative,SA国际影视传媒� he said in an interview Wednesday about what he said were historically adversarial relationships between industry and Indigenous communities.

Dilling said it would be a SA国际影视传媒渄isserviceSA国际影视传媒� if some industries are excluded from a federal program, pointing to some communities in Alberta where the only industry nearby is oil and gas.

SA国际影视传媒淚f you take that off the board, a major lever of economic reconciliation just evaporates, and I think itSA国际影视传媒檇 be a tragedy.SA国际影视传媒�

Speaking with The Canadian Press last week, Harold Calla, executive director of the First Nations Financial Management Board, said heSA国际影视传媒檚 been calling for such a program for years.

SA国际影视传媒淚tSA国际影视传媒檚 becoming very apparent to all that Indigenous economic participation requires the ability to see what the real benefits are going to be for First Nations,SA国际影视传媒� said Calla, who also serves on the board of directors for Trans Mountain.

SA国际影视传媒淲e need to be at the table, part of the decision-making process. We need to be supported and gain meaningful economic participation in these projects.SA国际影视传媒�

The president and CEO of the First Nations Bank of Canada, Bill Lomax, said Tuesday that a national Indigenous loan guarantee program will help encourage investments made by Indigenous communities. Lomax said the program would help reduce risks while leading to economic growth in communities.

Ahead of the fall economic statement, Chief Evan B.G. Taypotat of Kahkewistahaw First Nation in Saskatchewan said Canada shouldnSA国际影视传媒檛 have a say in which industries First Nations communities decide to partner with SA国际影视传媒� including the oil and gas industry.

SA国际影视传媒淚t just handcuffs us. ItSA国际影视传媒檚 not a viable pathway to success,SA国际影视传媒� he said.

SA国际影视传媒淚tSA国际影视传媒檚 time that we really say to the Canadian government, SA国际影视传媒楬elp us help ourselves.SA国际影视传媒� ItSA国际影视传媒檚 not a handout, itSA国际影视传媒檚 a hand up.SA国际影视传媒�

Taypotat also said having Indigenous ownership in companies would mitigate conflicts between industry and Nations.

He recalled stories from his childhood in which his community was strongly opposed to outside development for the sole reason that their leaders never had a seat at the table, or an opportunity to meaningfully invest.

Now, thatSA国际影视传媒檚 changing SA国际影视传媒� and growing those relationships is beneficial for the government, First Nations and industries alike, he said, so they should all be on board.

SA国际影视传媒淚f you donSA国际影视传媒檛, youSA国际影视传媒檙e going to be in the rear-view mirror looking at everybody going forward,SA国际影视传媒� he said.

SA国际影视传媒淭he Indigenous economic business train is coming.SA国际影视传媒�

SA国际影视传媒擝y Alessia Passafiume, The Canadian Press, with files from Amanda Stephenson