Budget 2024 announced the launch of the Indigenous Loan Guarantee Program to unlock access to capital for Indigenous communities and help remove historical barriers to Indigenous equity investment in natural resources and energy projects.
As indicated in Budget 2024, and pending passing of the Budget, CDEV will be responsible for creating a new subsidiary to provide due diligence on the applications and administer the portfolio of loan guarantees, while Natural Resources Canada will be responsible for intake and capacity building to assist eligible Indigenous applicants.
Further details will be released later this year.
For now, please refer to Budget 2024: www.canada.ca/budget