\u0027The problem is, much of our infrastructure in this country crosses jurisdictions ... so therefore you need a national program.\u0027
CALGARY — The CEO of Enbridge Inc. is calling on the federal government to create a national Indigenous loan guarantee program to help First Nations communities in Canada acquire equity stakes in major resource and infrastructure projects.
That’s changing, however. Last fall, Enbridge signed what was at the time North America’s largest energy-related partnership between a private company and Indigenous people. The deal saw the Calgary-based company sell an 11.57 per cent interest in seven northern Alberta pipelines to 23 First Nation and Metis communities a $1.1 billion-deal that was backed by a $250-million equity loan guarantee from the Alberta Indigenous Opportunities Corp.
“The main reason is, the Indian Act does not enable First Nations to use their land and other assets as collateral,” Edwards said. Enbridge, which is advocating for the role of natural gas and LNG as a transition fuel in the global energy shift towards a lower-carbon economy, believes any federal loan guarantee program should be sector-agnostic.
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