OTTAWA, ON, Dec. 3, 2025 /CNW/ - 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.

Quotes

"We are the only First Nation-led organization in the world leveraging private capital for a pooled-borrowing model, and this proves it's working. In 2014, we issued our first bond for $90 million and received an A- credit rating. Without the leadership of our dedicated board of directors and team over the years, we would not have reached $4 billion in financing and achieved an AA- rating. While the Act received all-party support in 2006, and Canada supported us again in 2011 with the Financing Secured by Other Revenues Regulation amendment to ensure all First Nations can utilize the services of FNFA, much more must be done to ensure First Nations get equitable access to affordable financing. We look forward to working with Canada as true Treaty partners to advance the work outlined in Budget 2025."

Ernie Daniels
President and CEO, First Nations Finance Authority

"Access to affordable capital is not just an economic tool—it's a foundation for the overall health and well-being of our Nations. Canada's intention to explore the monetization of federal transfers will work to address housing and infrastructure needs, support First Nations, and help close the widening $349.2 billion infrastructure gap quicker and build more for less, today. Most importantly, it ensures that Indigenous communities are not left on the sidelines but are active participants and leaders in shaping Canada's future."

Chief Derek Epp
Ch'íyáqtel First Nation, BC and First Nations Finance Authority Board Chair

"It is a privilege to join the First Nations Finance Authority and member Nations in marking this important achievement. These loans are helping build the housing and community infrastructure that First Nations need, while supporting local jobs and economic growth. In that way, the billions invested through the First Nations Finance Authority are also returning billions more into Canada's economy—delivering benefits for First Nations and for the country as a whole."

The Honourable Rebecca Alty
Minister of Crown-Indigenous Relations

Quick facts

• Loans to participating First Nations are administered by the First Nations Finance Authority under optional legislation, the First Nations Fiscal Management Act (2005), which first came into force on April 1, 2006.
• First Nations Finance Authority is a First Nations-led non-profit, financial services corporation mandated under the First Nations Fiscal Management Act (2005), providing cost-effective financing, investment management, and capital advisory services to First Nations communities in Canada. First Nations Finance Authority does not rely on federal government funding and is self-sufficient.
• In 2023, co-developed amendments to the First Nations Fiscal Management Act (2005), increased supports and tools available to participating First Nations to strengthen financial management systems, generate revenues from property taxation to improve services in their communities, and to access long-term financing to build community and economic infrastructure.
• Budget 2025 announced the Government of Canada's intention to amend the First Nations Fiscal Management Act (2005) to further enhance First Nations and Indigenous groups' access to affordable capital for equity participation in economic and resource development projects.
• The proposed amendments to the First Nations Fiscal Management Act (2005) will enable Indigenous owned corporations or limited partnerships, known as Special Purpose Vehicles, to become borrowing members of the First Nations Finance Authority and borrow under the Act.

Associated links

First Nations Finance Authority
Budget 2025: Canada Strong
First Nations Fiscal Management Act

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SOURCE Crown-Indigenous Relations and Northern Affairs Canada