Alberta Indigenous Opportunities Corporation's loan guarantee capacity to increase to $3 billion
Government of Alberta increases loan guarantee capacity from current $1 billion level to $2 billion in fiscal 2023-24 and $3 billion in fiscal 2024-25
CALGARY, AB, Nov. 2, 2023 /CNW/ - Alberta Indigenous Opportunities Corporation (AIOC) is thrilled to announce a significant increase in its loan guarantee capacity. The Government of Alberta has provided an immediate increase in the fiscal capacity of AIOC to provide loan guarantees for Indigenous communities from $1 billion to $2 billion and will further increase that amount to $3 billion in fiscal 2024-25.
To date, the AIOC has underwritten $511 million in loan guarantees, helping 27 Indigenous communities, and directly impacting over 60,000 Indigenous community members. The loan guarantees facilitate equity investments in major projects, generating primarily long-term and stable revenue returns for Indigenous communities in Alberta.
This increase in underwriting capacity shows a tangible commitment from the Government of Alberta to economic reconciliation and creating a brighter and more inclusive future for all Albertans.
Quote from AIOC CEO Chana Martineau:
"We are grateful to the Government of Alberta for their continued and increased investment in our work. We have many exciting deals in our pipeline, and this increased capacity will allow us to continue to support Indigenous equity investments in infrastructure projects. We look forward to putting this increased fiscal capacity to work, and will share news of new investments in the months to come. We are truly building a stronger Alberta, together."
AIOC is a provincial Crown Corporation that serves as a catalyst for Indigenous prosperity and independence by providing loan guarantees that enable Indigenous communities to make equity investments in projects related to Alberta's natural resources, agriculture, transportation, and telecommunications sectors.
To date, AIOC has provided $511 million in loan guarantees across five transactions. A total of 27 Indigenous communities, including 17 First Nations and 10 Métis, have been able to make investments in various projects through AIOC loan guarantees.
SOURCE The Alberta Indigenous Opportunities Corporation
Evhan Hinz, Berlin Communications, [email protected], 780-935-4022
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