Category: Uncategorized

For Immediate Release: June 13, 2024

Westbank, British Columbia First Nations Finance Authority’s (FNFA) loan portfolio now exceeds $2.2 billion in loans to its members with the issuance of its 11th debenture that has provided 30 First Nations across Canada access to $452 million to meet community priorities.

“Surpassing the $2.2 billion milestone with our 11th debenture issuance demonstrates then strength of the FNFA model,” said FNFA President and CEO, Ernie Daniels. “This achievement allows our borrowing members to invest in critical priorities like essential infrastructure projects, renewable energy solutions, economic and vital community services at significantly lower rates than available elsewhere. By offering a competitive relending rate of 4.47%, which is 2.48% below bank prime rate of 6.95%, our members can invest in their priorities, taking advantage of substantial cost savings. When projects are in the millions, savings of 1-2% can add up quite quickly. This commitment to fiscal responsibility empowers our First Nation communities to build a more prosperous future and focus on wealth creation.”

Since its inception, FNFA has successfully launched short and long-term loans programs, it has received multiple rating upgrades, grown exponentially in staff size, is self-sufficient, no longer relies on any external funding, and recently has received an index assignment change from the Municipal Index to the Federal Agency Index within the FTSE Canada Bond Indices.

The latest debenture, which legally takes effect on June 11, 2024, supports environmental, social and governance (ESG)-focused opportunities and aligns with the United Nations’ Sustainable Development Goals (SDG). Since the first debenture was issued in 2014, the projects financed by FNFA have resulted in the creation of nearly 22,000 jobs and an improved quality of life in many communities.

This includes projects like:

• Improved Food Security: A Manitoba community is constructing a new grocery store and service center, eliminating a long 50-kilometer trek for residents to access essential goods.
• Sustainable Growth: An Ontario First Nation is increasing its ownership in a wind farm project, promoting environmental responsibility while generating revenue for future community investments.
• Enhanced Infrastructure: Another Ontario community is upgrading its road system, improving infrastructure and overall community safety.

This 11th debenture issuance marks a significant milestone for the First Nations Finance Authority. Issued in 2014, the FNFA’s inaugural debenture reaches its maturity term this year. The successful reissuance of this debt instrument demonstrates strong capital market acceptance of FNFA’s model for raising financing in support of its members. This achievement signifies the ongoing viability and attractiveness of the debenture program as a tool for First Nations communities to secure long-term financing for their community projects.

“It is evident that FNFA is seen as a trusted financial source for First Nations communities across Canada,” said Chief Warren Tabobondung, Wasauksing First Nation, ON and FNFA Board Chair. “I am proud that there are now 364 First Nations scheduled to the First Nations Fiscal Management Act —more than 50 per cent of all First Nations communities in Canada — 173 of which have completed the process to become a borrowing member.”

For more information about FNFA’s 11th debenture milestone, please visit fnfa.ca/en/about/news-media/ or call 250-768-5253.

About the First Nations Finance Authority (FNFA)
FNFA is a non-profit organization that provides financing, investment, and advisory services to First Nation governments that voluntarily schedule to the First Nations Fiscal Management Act (Act). FNFA received Royal Assent under the Act in 2005.

For media inquiries, contact:
Brianna Wilson, FNFA
Social Media and Marketing Coordinator
250-768-5253
bwilson@fnfa.ca

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MEDIA ADVISORY

A NEW COMMUNITY CENTRE IS A GATHERING PLACE TO REVIVE CULTURE, AND
THE FULFILMENT OF A DREAM. AND IT’S FINANCED BY AN INNOVATIVE FIRST
NATIONS LENDER

SALT RIVER FIRST NATION, NWT (April 1, 2019) — Today the Salt River First Nation announced
the Grand Opening of its new Community Centre, a $17.5 million project financed by the First Nations
Financial Authority (FNFA), a major First Nations lender, in partnership with National Bank of Canada.
The Grand Opening takes place in Salt River on Sunday April 7 at 6:30 pm.
Chief Frieda Martselos describes the new Centre as “a great economic opportunity for future
generations and a gathering place for our community to revive the language and culture.” Years in the
planning, the project fulfils a community dream and stands as a testament to Salt River First Nation’s
vision and determination. Chief Martselos adds that “it would not have happened without financing
from FNFA.”

Salt River First Nation is located at the Northern Alberta border in the spectacular South Slave region
of the Northwest Territories. The community neighbours Fort Smith, headquarters of the Wood Buffalo
National Park, a home to endangered species and the largest national park in Canada. The
Community Centre’s unique and modern design reflects the culture and surrounding territory of the
Salt River First Nation.

In partnership with National Bank of Canada, the FNFA has created a financing solution that cuts
borrowing costs for First Nations communities. Over the last four years, it has lent $500 million to close
infrastructure gaps and generate employment opportunities. The FNFA has helped finance projects
across Canada, including wellness centres, community housing, and biomass energy, empowering
First Nations to control their own economic development.

Last September, FNFA announced the opening of a $24 million state-of-the-art high school in Fisher
River First Nation, 200 kilometres north of Winnipeg. FNFA enjoys an “A2 Stable,” investment- grade
rating from Moody’s Investors Service and is the recipient of the Governor General’s Innovation Award
for its “exceptional, transformative, and positive impact on quality of life.”

“Our loan program is over half a billion dollars and rapidly growing,” said FNFA CEO, Ernie Daniels.
“If you’re looking for opportunities to borrow or invest, we’d love to hear from you.”
For more information, please visit the FNFA website at www.fnfa.ca.

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Media contact: Ernie R. Daniels, President and CEO, First Nations Finance Authority
Phone: (250) 768.5253 ext. 112, email: edaniels@fnfa.ca

Enabling legislation: The FNFA came into effect in 2006 following passage of the federal First Nations Fiscal Management Act, 2005 (FNFMA).