First Nations Bank of Canada Approves First Loans Through Canada Infrastructure Bank first-of-its-kind loan product

FNBC and CIB financing package accelerating critical community development projects in Communities across Canada 

SASKATOON, SK, Feb. 26, 2025 /CNW/ - First Nations Bank of Canada (FNBC) is proud to announce the approval of its first loans under the Indigenous Land Development Loan Program in partnership with the Canada Infrastructure Bank (CIB).

This milestone marks a significant step in advancing critical infrastructure projects that will support economic growth and sustainability in Indigenous communities across Canada.

Many of the projects funded under the program had been delayed for years due to funding challenges, and this program has provided the necessary financial boost to move them ahead.

Through this initiative, FNBC is working alongside the CIB to provide financing solutions towards essential infrastructure projects, including new housing subdivisions, community centers, and economic development projects such as urban reserve development.

FNBC is lending approximately $3 of its own funds for every $1 of CIB financing. Since initiating the intake process only a few months ago, FNBC has obtained initial approval for approximately $140 million in Indigenous land infrastructure projects, requiring only $30 million in CIB loan proceeds. These initial CIB approvals are with five Indigenous communities in two provinces and one territory (British Columbia, Saskatchewan, and Yukon).

One of the projects funded in northern British Columbia is with Doig River First Nation's development corporation for the creation of a new 8-acre economic hub, called Naache Commons, on urban reserve land in Fort St. John. Chief Trevor Makadahay of Doig River First Nation said "This project is part of our nation-building story as we return back to our ancestral Fort St. John Beaver Band lands and enhance our economic potential throughout northeastern British Columbia. The Indigenous Land Development Loan Program delivered by FNBC with CIB has been game-changing in making Naache Commons a reality."

Projects like Naache Commons, which plans to feature 61,000 square feet of commercial space, residential units and gas station, will help address long-standing infrastructure gaps while promoting sustainable development.

"The FNBC and CIB program is helping us stretch financing much further, supporting a broader scope of Indigenous infrastructure projects than traditional grants or government capital funding alone," said Bill Lomax, President and CEO of FNBC. "This partnership ensures that Indigenous-led projects receive the financial resources needed to succeed and thrive."

"Just a year after finalizing our $100M loan with FNBC, we are seeing it come to fruition. Our collaboration is accelerating investments in critical community infrastructure projects, many of which were previously delayed due to funding challenges," said Ehren Cory, CEO, Canada Infrastructure Bank. "Indigenous communities are accessing affordable financing towards their community development projects, resulting in enhanced living conditions, new economic opportunities and housing."

FNBC and CIB Program Impact:

• Number of Initial Approvals: 5
• CIB Loan Portion: $30,500,000
• FNBC Loan Portion: $74,000,000
• Total Project Value: $140,000,000

Indigenous communities interested in accessing this community development financing, can learn more on the FNBC site (https://www.fnbc.ca/) or emailing directly about the Land Development Loan Program at [email protected].

SOURCE First Nations Bank of Canada

For more information, please contact: Jed Johns, Chief Marketing Officer, First Nations Bank of Canada, [email protected], [phone]