Alberta & First Nations Energy Pact

oil and gas - depositphotos

CBJ — Jason Kenney’s Alberta government plans to put forward legislation to create a Crown corporation backstopped by $1 billion to help First Nations invest in major energy projects like pipelines.

Premier Kenney made the announcement after meeting with chiefs from across Alberta at Government House in Edmonton.

The legislation, following up on an election campaign promise, will create the Indigenous Opportunities Corporation.

During the election campaign Kenney promised that his government would fund the corporation with $24 million over the first four years to give legal, technical and financial advice to First Nations looking to initiate or participate in energy projects.

The province would also provide $1 billion to provide financial backstops and loan guarantees.

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