OTTAWA 鈥� Ottawa and the National Aboriginal Capital Corporation Association have signed a first-of-its-kind, $514 million agreement to help boost entrepreneurship.
Indigenous Services Canada says it's the first time it has approved a 10-year agreement under an economic development program meant to advance economic reconciliation.
The Aboriginal Entrepreneurship Program works to increase the number of "viable Indigenous-owned businesses" by helping with access to capital and business opportunities, Indigenous Services Canada says.
NACCA will receive $514 million over 10 years 鈥� money allocated through the 2024 budget.
NACCA CEO Shannin Metatawabin says the agreement signed Monday will generate economic activity worth more than double Ottawa's investment.
He says the funding helps businesses to succeed and he hopes to see more such investments in the future.
This report by The Canadian Press was first published May 8, 2025.
Alessia Passafiume, The Canadian Press
