July 4, 2014 - Ottawa, ON - Aboriginal Affairs and Northern Development Canada
The Honourable Bernard Valcourt, Minister of Aboriginal Affairs and Northern Development, congratulates the First Nations Finance Authority (FNFA) on their success on their very first bond issuance on the financial markets on June 19, 2014. The proceeds of the bond issue will allow First Nations to have the same access to private capital enjoyed by most local governments in Canada.
The First Nations Fiscal Management Act (FNFMA) which came into force on April 1, 2006, established the FNFA, a non-profit corporation, to provide First Nations governments with financing, investment and advisory services, as well as financial instruments to help build their futures.
Currently, 124 First Nations have chosen to participate in the FNFMA regime, which also provides tools to help strengthen real property taxation systems on reserve through the First Nation Tax Commission and strengthen financial management systems on reserve through the First Nations Financial Management Board.
The success of the First Nations Fiscal Management Act along with the success of the First Nations Finance Authority contributes towards our shared goal of improving economic opportunities for Aboriginal peoples.
Office of the Minister of Aboriginal Affairs and Northern Development
Aboriginal Affairs and Northern Development Canada
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