A profound shift is underway in Canada's economic landscape. For generations, Indigenous communities held immense potential for development on their ancestral lands but were systematically locked out of the financial and decision-making structures needed to realize it. That historical barrier is now crumbling.
Policy Shift Opens Doors for Indigenous Ambition
The landscape began to change with Prime Minister Mark Carney's nation-building agenda. Through initiatives like the Major Projects Office, the federal government is prioritizing projects that combine robust economic development, environmental stewardship, and meaningful Indigenous partnership. This policy realignment, for the first time, is creating a direct pathway for Indigenous ambition to translate into concrete action.
A key symbol of this new alignment is the memorandum of understanding (MOU) signed in November 2025 by Prime Minister Carney and Alberta Premier Danielle Smith. This agreement charts a joint course for the next generation of major energy projects in Alberta. Crucially, because these projects traverse Indigenous territories, the MOU explicitly reinforces that First Nations will be central in shaping how these developments proceed.
Breaking the Capital Barrier: New Financial Instruments Emerge
The core historical challenge has been access to capital. Indigenous entrepreneurs had ideas, and Nations had project-ready land, but the funding to build was elusive. That dynamic is being overturned by innovative financial institutions created by and for Indigenous communities.
In a landmark move, Scotiabank announced in 2025 the creation of Cedar Leaf Capital. This is Canada's first investment dealer owned by Indigenous shareholders, established in partnership with two Indigenous development corporations and one First Nation. Specializing as an underwriter for fixed-income securities, Cedar Leaf provides Indigenous investors and communities direct access to capital markets infrastructure, reducing reliance on traditional, mainstream financial institutions.
Furthermore, the Business Development Bank of Canada and the First Nations Bank of Canada launched a $100-million annual program in the summer of 2025. This initiative is specifically designed to help Indigenous communities and development corporations acquire existing small- and medium-sized businesses, a transformative tool for gaining economic ownership. Simultaneously, the First Nations Bank is raising up to $50 million in new equity, which is projected to unlock between $250 million and $400 million in new lending capacity for Indigenous entrepreneurs across the country.
A Transformative Future for Canada's Economy
These developments represent more than isolated business deals; they signal a structural change in how Canada builds its future. The combination of supportive federal policy, provincial cooperation as seen in Alberta, and the rise of Indigenous-led financial power is creating an unprecedented ecosystem for growth.
The era where Indigenous communities were consulted on projects conceived and controlled by others is fading. The new model positions First Nations not just as stakeholders, but as drivers, owners, and architects of nation-building projects. This shift promises to harness long-untapped potential, leading to more sustainable, inclusive, and prosperous development for all of Canada.
