Economic reconciliation means ensuring Indigenous communities can participate fully in-and benefit directly from-the major projects shaping Canada's future. Through the Indigenous Loan Guarantee Program (ILGP), the Government of Canada is helping Indigenous Peoples build long-term wealth, create economic opportunities, and secure ownership stakes in projects of national significance.
Today, the Honourable François-Philippe Champagne, Minister of Finance and National Revenue, announced a loan guarantee transaction that will allow seven First Nations in Ontario (the Williams Treaties First Nations) to eventually own a significant minority interest in the Darlington New Nuclear Project. This transaction represents the largest Indigenous loan guarantee ever issued in Canada and one of the largest Indigenous investments in a major infrastructure project in Canadian history.
Half of the guarantee is provided through ILGP, and the other half of the guarantee is supported by the Province of Ontario through its Indigenous Opportunities Financing Program, administered by Building Ontario Fund. Together, the two programs are supporting approximately $715 million in financing for the investment.
The transaction is the first collaboration between the Canada Indigenous Loan Guarantee Corporation (CILGC) and a provincial loan guarantee program. It will support participating First Nations in acquiring a significant ownership stake in one of Canada's most important energy projects and represents one of the first opportunities for Indigenous Nations to participate in nuclear energy infrastructure at scale. Acquiring an ownership stake in this project will ensure communities benefit directly from the long-term revenues generated by a major electricity generation asset.
In September 2025, the Darlington New Nuclear Project was one of the first nation-building projects referred to the Major Projects Office for consideration. In October 2025, the Government of Canada announced that the Canada Growth Fund had committed up to $2 billion in equity financing for the Darlington New Nuclear Project. Once complete, it will make Canada the first G7 country to have a small modular reactor, driving $500 million annually into Ontario's nuclear supply chain and sustaining 3,700 jobs annually, including 18,000 during construction.
At its full potential, the project's four planned new nuclear reactors will provide 1,200 megawatts of clean, reliable electricity-enough to power about 1.2 million homes (more than the number of households in the Greater Toronto Area)-while reducing carbon emissions by an average of up to 2.3 million tonnes annually between 2030 and 2050.
Nuclear power is key to a cleaner, stronger, more sovereign economy. It is time to build on decades of Canadian leadership as a modern nuclear energy superpower, and through our Nuclear Energy Strategy, the Government of Canada is delivering for Canadians today and for generations to come.
The ILGP is a key tool for advancing economic reconciliation by improving access to affordable financing and enabling Indigenous groups to take ownership stakes. Today's announcement demonstrates how the Program can support meaningful Indigenous participation in large-scale, nationally significant infrastructure projects. This loan guarantee will support long-term community prosperity and self-determination, while strengthening partnerships and investment certainty in Canada's energy sector.
