New Investment Program Launched to Increase Indigenous Economic Opportunities

Released on June 1, 2022

The Saskatchewan Indigenous Investment Finance Corporation is Open for Applications from Eligible Indigenous Groups Looking to Invest in Core Economic Sectors

The Saskatchewan Indigenous Investment Finance Corporation (SIIFC) is now taking applications from First Nations and Métis communities and organizations interested in investing in the province's natural resource and value-added agriculture sectors.

The SIIFC will offer up to $75 million in loan guarantees to eligible applicants which will support Indigenous-equity ownership of major projects in mining, energy, oil and gas, forestry and value-added agriculture.

"Saskatchewan's Indigenous-led companies employ thousands of people, generate hundreds of millions of dollars in revenue and benefit Indigenous and non-Indigenous communities across the province," Trade and Export Development Minister Jeremy Harrison said. "The SIIFC will build on this, and support increased Indigenous participation in some of Saskatchewan's key economic sectors, which our government believes is necessary to advance reconciliation."

In discussions with Indigenous business and community leaders and major resource development companies, a lack of access to capital was identified as a key barrier to increasing Indigenous equity participation in natural resource and value-added agriculture projects. The SIIFC will address this need with minimum loan guarantees of $5 million.

"Based on the number of enquiries we have already received, we anticipate high demand for the loan guarantees offered through SIIFC," SIIFC CEO Matt Smith said. "Indigenous communities have long been asking for support to help facilitate their investment in natural resource development projects, and the SIIFC will do just that."

The Ministry of Trade and Export Development has launched a new website for the SIIFC which has information about the program and the application process for prospective applicants www.siifc.ca. 

The SIIFC will contribute to the Saskatchewan Growth Plan goal of growing Indigenous participation in Saskatchewan's natural resource industries. The Government of Saskatchewan is committed to economic reconciliation and increasing Indigenous economic opportunities.

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