More than half of the country’s critical minerals opportunities, 35 per cent of its potential solar sites and 44 per cent of its wind sites are on Indigenous land. “We are not going to mobilize that without Indigenous share equity,” he said.
But the 2023 budget failed to take the next step of a loan guarantee schedule, similar to those offered by provincial programs in Ontario, Saskatchewan and Alberta. Niilo Edwards, chief executive officer at FNMPC, said the central challenge his members face is they don’t have a downpayment or the risk capital required and are forced to go to banks and seek a 100 per cent loan, with no guarantee.
Bay Street has welcomed the FNFA’s bonds as bona fide and Moody’s credit rating agency has affirmed its Aa3 investment grade status. The Canada Infrastructure Bank is another source of low interest loans but it can’t finance carbon-emitting projects. “We have two LNG projects in our portfolio, one needs financing next year. The CIB is not an option,” he said.
Source: Loan News Today (loannewstoday.net)
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