When Indigenous Peoples succeed, Canada succeeds. A fairer future for every generation of Indigenous Peoples includes better access to health care, housing, post-secondary education, and good-paying jobs. With renewed Nation-to-Nation, Government-to-Government, and Inuit-Crown relationships, we are creating thousands of jobs, generating economic opportunity for First Nations, Inuit, and Métis communities, and closing the housing gaps which have caused Indigenous communities to face high housing costs and lack of access for far too long.
The Prime Minister, Justin Trudeau, today highlighted new measures included in Budget 2024 to create jobs, unlock opportunities, and build more housing and infrastructure for Indigenous Peoples.
Here are some of our key measures:
Indigenous Loan Guarantee Program, which will offer up to $5 billion in loan guarantees to make sure Indigenous communities can share in the benefits of natural resource and energy projects in their territories.
- The program will support natural resource and energy projects across the country by providing access to affordable capital for Indigenous governments and communities seeking ownership stakes.
- This will support their economic development priorities and create new economic opportunities.
- Through the program, successful applicants will benefit from the government’s credit to access loans from financial institutions at lower interest rates.
- Budget 2024 also provides $16.5 million over two years, starting in 2024-25, to help Indigenous communities apply for the program and to support its delivery.
$390.4 million to build or renovate health facilities, including to support the Virtual Health Hub led by the Saskatchewan Indian Institute of Technologies. This funding will also improve the safety of primary care workers in remote and isolated on-reserve First Nations communities.
$388 million in new investments to boost Indigenous economic opportunities for Indigenous entrepreneurs, Indigenous tourism, and to unlock new clean energy opportunities through the Strategic Partnerships Initiative.
Unlocking pathways to post-secondary education by investing nearly $243 million for the next generation of First Nations university, college, and post-secondary students, building on the $487.5 million over 10 years invested in Inuit and Métis post-secondary education strategies through Budget 2019.
Indigenous housing and community infrastructure investments of $918 million to support housing and infrastructure needs in First Nations, Inuit, and Métis communities. This is on top of the $5 billion already available for communities in 2024-25 to fill the Indigenous housing and infrastructure gaps so communities can grow and thrive. These funds will be distributed as follows:
- $426 million for First Nations on reserve.
- $62 million for Self-Governing and Modern Treaty First Nations.
- $370 million for Inuit communities.
- $60 million for Métis communities.
Safe, reliable road access for remote First Nations communities, with $89 million in federal funding to support the Hatchet Lake All-seasons Road Project in Saskatchewan and the Berens River Bridge and Road Project in Ontario.
The Canada Infrastructure Bank’s Housing Initiative, which will provide low-cost financing to municipalities and Indigenous communities. The initiative will help reduce barriers to building infrastructure, such as water treatment, transit, and green energy.
Everyone deserves to succeed. The measures outlined above will help ensure that First Nations, Inuit, and Métis communities have what they need to grow and succeed on their own terms – and these are just some of the things that we are proposing in Budget 2024. Reconciliation will be at the forefront of everything we do. Alongside these measures, we’re building more homes faster, keeping our economy competitive, investing in health care, and making life more affordable to make sure every generation can get ahead.
Quotes
“Our government is here as a partner. And through Budget 2024, we’re moving forward – together – to create more and fairer opportunities for Indigenous Peoples. These investments will bring opportunity, create jobs, build homes, and continue our shared path toward meaningful reconciliation.”
“Through this year’s budget, we are driving the kind of economic growth that will ensure every generation can reach their full potential – including tools to ensure every generation of Indigenous Peoples can succeed on their own terms. The new Indigenous Loan Guarantee Program will encourage Indigenous equity ownership in major natural resource projects, helping Indigenous Peoples benefit their fair share in Canada’s economic growth.”
“When we talk about self-determination for Indigenous Peoples, we have to talk about how we can be a partner to Indigenous communities in advancing their priorities. Across the board – in housing, health care, jobs, education, and more – Budget 2024 investments respond to the direct needs of Indigenous partners and keep us moving forward on the path of reconciliation.”
“Budget 2024 is helping build a fairer and more equitable Canada for Indigenous Peoples. It focuses on the foundational elements of fairness: investing in more homes, more schools, and creating more economic opportunities. We are working with Indigenous partners to restore the tools needed to advance self-determination, create equal opportunities to grow, and participate in all aspects of society.”
“Indigenous communities contribute greatly to Canada and are full of opportunities, but often don’t have the necessary resources to prosper. With Budget 2024, we’re making the necessary investments in education and economic growth, and we’re helping to close the infrastructure and housing gap to give Indigenous Peoples from across the country the chance to succeed.”
Quick Facts
- The number of major natural resources and energy projects with potential for Indigenous equity participation is anticipated to grow significantly, with the potential to reach $525 billion in capital investment over the next 10 years. The Indigenous Loan Guarantee Program will help ensure Indigenous communities – who have fewer options for securing capital due to the Indian Act and the legacy of colonialism – are able to fully benefit from these opportunities, by providing them with access to affordable capital that meets their unique needs.
- The Indigenous Loan Guarantee Program builds on the government’s 2023 Fall Economic Statement commitment to help facilitate Indigenous equity ownership in major natural resource projects.
- Since 2015, the federal government has committed more than $6.7 billion to support housing in Indigenous communities. As of December 31, 2023, we have committed to support over 22,000 new homes in 611 First Nations communities.
- The government is also investing $4.3 billion to advance an Urban, Rural, and Northern Indigenous Housing Strategy, including the creation of a National Indigenous Housing Centre to be announced over the coming months. The Strategy will complement the federal government’s previous $6.7 billion to close the Indigenous housing gaps. Informed by Indigenous-led engagement with Indigenous governments, organizations, and housing providers, the funding will be delivered through a new Indigenous-led National Indigenous Housing Centre and by First Nations, Inuit, and Métis governments, Modern Treaty holders, and Self-Governing Indigenous governments to ensure support is provided to all Indigenous Peoples.
- Since 2015, the federal government has made significant investments to build more homes, deliver better health care, and ensure Indigenous communities have clean drinking water. Because every Indigenous person deserves access to what they need to build a healthy and vibrant life.
- The Government of Canada’s Budget 2024 was tabled in the House of Commons by the Deputy Prime Minister and Minister of Finance on April 16, 2024.