FOR IMMEDIATE RELEASE

Ottawa, April 17, 2024 – The National Aboriginal Capital Corporations Association (NACCA) is pleased that Minister Freeland included NACCA and the IFI network in the Federal Budget 2024, marking a significant milestone in the advancement of Indigenous entrepreneurialism and economic prosperity.

The allocation of $350 million for the IFI Network in Budget 2024 is a clear indication the Government of Canada understands the necessity to invest in the Indigenous economy. The success of the 35 plus year track of NACCA providing funding to the network of Indigenous Financial Institutions (IFIs) who endeavour to create and support Indigenous entrepreneurs is validated by this announcement. The funding will play a pivotal role in supporting Indigenous self-determination and economic empowerment. This crucial investment underscores the government’s recognition of the importance of Indigenous Peoples, businesses, and communities fully engaging in the economy, in alignment with their constitutionally protected rights.

“The inclusion of NACCA in Budget 2024 demonstrates the government’s commitment to advancing Indigenous economic prosperity,” said Shannin Metatawabin, CEO of NACCA. “This funding will enable us to continue our transformative work, breaking down systemic barriers and fostering economic participation aligned with Indigenous cultural values. We acknowledge and thank the Government of Canada for their strong belief, support and inclusion of NACCA and the network of IFIs as we look forward to a continuance of collaborative positive outcomes towards Indigenous Prosperity.”

NACCA, comprising a network of 50+ Indigenous Financial Institutions (IFIs), has been quietly catalyzing Indigenous business development for over 35 years. Through its steadfast commitment, NACCA has facilitated the issuance of 53,000 loans totalling $3.3 billion to small and medium-sized Indigenous businesses across Canada.

These funds will go a long way in supporting vital programs, those empowering Indigenous women and youth entrepreneurs, essential for leveraging private sector capital and deploying loans to Indigenous businesses. Additionally, a $150 million injection into the Indigenous Growth Fund aims to not only attract additional investors but also to establish a sustainable reservoir of capital. This capital infusion is designed to foster ongoing prosperity for Indigenous enterprises.

NACCA’s impact extends beyond financial metrics directly having positive social impact on Indigenous communities. This includes facilitating economic growth, job creation, and community development; particularly in remote areas where conventional lenders hesitate to invest. In 35+ years, NACCA’s contributions have amounted to approximately $12 billion in economic growth, creating over 126,000 jobs while improving the well-being of Indigenous communities.

The government’s investment in NACCA underscores its commitment to building a more inclusive and prosperous future for all Canadians. NACCA extends its heartfelt gratitude to the Government and the many MPs and Senators from all parties/groups for their unwavering support of NACCA’s mission.

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For media inquiries, please contact: jlamoureux@nacca.ca

About NACCA:

The National Aboriginal Capital Corporations Association, (NACCA) is a network comprising 50+ Indigenous Financial Institutions (IFIs) committed to driving economic growth for Indigenous Peoples across Canada. Through fostering social and economic self-reliance, NACCA and its members strive to cultivate sustainable prosperity within Indigenous communities from coast to coast to coast.

L’ANSAF APPLAUDIT L’INCLUSION DANS LE BUDGET FÉDÉRAL 2024, PERMETTANT L’AVANCEMENT DE L’ENTREPRENEURIAT AUTOCHTONE

POUR PUBLICATION IMMÉDIATE

Ottawa, le 17 avril 2024 – L’Association nationale des sociétés autochtones de financement (ANSAF) tiens à célébrer que la ministre Chrystia Freeland et le Premier ministre Justin Trudeau aient inclus dans le budget fédéral 2024 350 millions de dollars pour les réseaux d’institutions financières autochtones sur cinq ans. Il s’agit d’une étape importante dans la promotion de l’entrepreneuriat autochtone, et de la prospérité économique.

“L’inclusion de l’ANSAF dans le budget 2024 démontre l’engagement du gouvernement à promouvoir la prospérité économique autochtone à travers le Canada”, a déclaré Shannin Metatawabin, PDG de l’ANSAF. “Ce financement nous permettra de poursuivre notre travail de transformation, en éliminant les barrières systémiques et en favorisant la participation économique alignée sur les valeurs culturelles autochtones.

Nous remercions le gouvernement du Canada d’avoir soutenu et inclus l’ANSAF et le réseau des institutions financières autochtones. Cet engament arrive également à un moment crucial pour nos communautés, avec des solutions comme le Fonds de croissance autochtone, désormais positionné pour répondre à la demande croissante et évolutive des entreprises autochtones, a ajouté M. Metatawabin.

Le succès de l’ANSAF, avec plus de 35 ans d’expérience dans la fourniture de financement au réseau des Institutions Financières Autochtones (IFAs) qui s’efforce de créer et de soutenir les entrepreneurs autochtones est validé par cette annonce. Ce financement jouera un rôle crucial dans le soutien à l’autodétermination autochtone et à l’autonomisation économique. Cet investissement crucial souligne la reconnaissance du gouvernement de l’importance de l’engagement total des peuples autochtones, des entreprises et des communautés dans l’économie, conformément à leurs droits protégés par la Constitution.

L’ANSAF, regroupant un réseau de plus de 50 IFAs, a discrètement catalysé le développement des entreprises autochtones depuis plus de 35 ans. Grâce à son engagement indéfectible, l’ANSAF a facilité l’octroi de 53 000 prêts totalisant 3,3 milliards de dollars à des petites et moyennes entreprises autochtones à travers le Canada. Nous sommes particulièrement fiers de notre taux de remboursement, qui dépasse 97 %.