The deal will improve infrastructure in Indigenous communities, according to FNBC, bringing in the necessary capital to revive projects that have been sidelined for years due to funding challenges. The Indigenous Land Development Loan Program, a partnership between the two banks, is the driving catalyst behind the push to complete the projects. (The Logic)

Talking point: Even beyond the announcement, there are more loan opportunities available than the Indigenous-owned bank can fund, so it is working on bringing on more Indigenous investors, FNBC’s chief executive Bill Lomax said in an interview. “The bank is very much in expansion mode right now,” he added. The financing deal comes nearly a year after CIB committed to providing $100 million in loans for FNBC—the Indigenous-owned bank pledging to run the portfolios and match funds. In November 2023, CIB said it would invest almost $1 billion in Indigenous infrastructure.