Ontario Newsroom

Support for the Aboriginal Loan Guarantee Program

Archived Backgrounder

Support for the Aboriginal Loan Guarantee Program

“The Métis Nation of Ontario is pleased the Government of Ontario is enhancing the Aboriginal Loan Guarantee Program. We believe the increase to this program, combined with the Métis Voyageur Development Fund and our ongoing economic development work with Ontario through our Framework Agreement, will assist Métis individuals, entrepreneurs and communities in being able to meaningfully participate in Ontario’s resource sector, including, energy related projects.”
-- Gary Lipinski, President, Métis Nation of Ontario

“I’d like to express my deep appreciation for Ontario’s Aboriginal Loan Guarantee Program, which made it possible to borrow funds to complete M'Chigeeng's windmill project. First Nations have great difficulty securing financing due to their status as First Nations, and so without a guarantee program, renewable energy projects like ours would just not happen. Our windmills are turning, turning, making money, thanks to Ontario’s Aboriginal Loan Guarantee Program.”
-- Chief Joseph Hare, M’Chigeeng First Nation

"The Government of Ontario recognized the challenges faced by Indian Act Bands in raising financing to take up ownership in Green Energy projects. With great foresight, Premier McGuinty and Minister Bentley on behalf of the Government of Ontario created the Aboriginal Loan Guarantee Program to help address this barrier. It could not have come at a better time for the Moose Cree. The Moose Cree were one of the first applicants to the Aboriginal Loan Guarantee Program and have become one of its first successes. We have entered a new world of business relationships and have developed new and lasting capacity in project finance that will serve the economy of the Moose Cree Homeland and the Province of Ontario for years to come. We commend the Government of Ontario for extending the program so that other Aboriginal peoples of Ontario can take up these types of opportunities."
-- Chief Norman Hardisty, Jr, Moose Cree First Nation.

Media Contacts

Share

Tags

Business and Economy Environment and Energy Government Jobs and Employment Rural and North Taxes and Benefits Aboriginal People