Advancing economic reconciliation with Indigenous Peoples is a core priority of the Government of Canada. By expanding economic opportunities for Indigenous groups across the country, the government is helping secure a fairer and more prosperous future for Indigenous Peoples, and a fairer Canada.
Today, the Honourable François-Philippe Champagne, Minister of Finance and National Revenue, welcomed the second loan guarantee transaction under the Indigenous Loan Guarantee Program (ILGP).
Through a federal loan guarantee via the ILGP, Aamjiwnaang First Nation and the Chippewas of Kettle and Stony Point First Nation (together, the "Nations") will acquire a nearly 20 per cent equity interest in the Chatham-to-Lakeshore electricity transmission project. This move marks a significant step in advancing Indigenous economic participation in major projects across Canada.
The ILGP is a key economic reconciliation initiative that supports Indigenous groups in obtaining more favourable borrowing rates, making it more affordable for most Indigenous communities to have a greater share in the economic benefits of major projects.
This program directly responds to calls from Indigenous groups to address historical barriers to economic participation and opportunities. It is also aligned with the Government of Canada's broader objectives of economic reconciliation, fostering Indigenous economic development, and supporting self-determination.
The Chatham-to-Lakeshore line is a fully operational, cost-of-service regulated transmission line in Southwestern Ontario. Built by Hydro One, the project came into service in December 2024. The 49-kilometre, 230-kilovolt line increases the reliability and resiliency of the grid and brings 400 megawatts of clean and affordable electricity to the Windsor-Essex Region. The infrastructure improves grid reliability and enables industrial growth while helping meet rapidly rising electricity demand. By purchasing a combined nearly 20 per cent equity share in this energy asset, the Nations are expected to generate long-term, stable cashflows that they will be able to invest in their community priorities.
