Ottawa, Ontario - First Nations Finance Authority (FNFA) and Crown-Indigenous Relations and Northern Affairs Canada
Today, Ernie Daniels, President and Chief Executive Officer of FNFA, and the Honourable Rebecca Alty, Minister of Crown-Indigenous Relations, joined Chief Derek Epp, Ch'íyáqtel First Nation, BC and FNFA Board Chair to recognize FNFA's achievement of issuing more than $4 billion in financing since the organization was established. This has contributed to the creation of an estimated 39,000 jobs and $8.5 billion to Canada's economy.
At the announcement, Minister Alty also highlighted the proposed changes to the First Nations Fiscal Management Act (2005) to allow Special Purpose Vehicles (SPVs) to borrow money through the First Nations Finance Authority, helping boost their participation in economic and resource development projects and supporting long-term economic growth, prosperity, and self-determination.
Financing provided through FNFA gives First Nations governments access to stable, affordable capital and greater control over their fiscal futures. These loans support essential community infrastructure, housing, economic development, and local priorities identified by First Nations. Through the First Nations Fiscal Management Act (2005), participating First Nations governments have autonomy over their financial management, optional property taxation and local revenues, and access to pooled borrowing that reduces costs.
FNFA issued its first loan in 2012. Since then, it has supported 193 First Nations as borrowing members and worked closely with the Government of Canada to co-develop changes to the First Nations Fiscal Management Act (2005). These updates improve the tools and supports available to participating First Nations, strengthen governance, and expand opportunities for stable, long-term financing.
FNFA plays a vital role in empowering First Nations by increasing access to affordable capital and financial expertise. This support helps communities participate in economic and resource development projects, build essential infrastructure, and drive prosperity within a strong, inclusive Canadian economy.
