Published on June 10, 2023 at 4:05 p.m
Greg Ebel says Canadian energy companies are increasingly willing to offer equity investments to Indigenous communities whose traditional lands are crisscrossed by pipelines and other infrastructure projects. (Photo: The Canadian Press)
Calgary – The CEO of Enbridge (ENB) is calling for the creation of a federal loan guarantee program for Aboriginal people.
Greg Ebel told the Toronto Region Chamber of Commerce Friday that Canadian energy companies are increasingly willing to offer equity investments to Indigenous communities whose traditional lands are crisscrossed by pipelines and other infrastructure projects.
However, he said Indigenous communities often lacked necessary access to capital.
Mr. Ebel noted that Alberta, Saskatchewan and Ontario all have programs that offer Indigenous communities funding for business partnerships.
However, he added that these programs are not sufficient for large infrastructure projects that cross provincial borders.
Last fall, Enbridge sold an 11.57 per cent stake in seven pipelines in northern Alberta to 23 First Nations and Métis communities – a $1.1 billion deal secured by a guaranteed loan from the Alberta Indigenous Opportunities Corporation .
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