The Saskatoon-based First Nations Bank of Canada is reportedly raising up to $50 million in new equity, and has already secured $9 million from five Indigenous communities. (Bloomberg)

Talking point: The capital raise comes amid the federal government’s efforts to unleash billions of dollars for major projects like power plants and pipelines as a counterweight to the impact of U.S. tariffs. Much of that investment will need to flow through Indigenous communities, which may seek loan-backed direct financial stakes in the projects. Five First Nations groups—Uujo Developments, Doig River First Nation, Whitefish Lake First Nation #128, Daanaa Jili Trust and Athabasca Basin Development—financed the first $9 million of the FNBC’s new equity. With the capital it’s seeking, Chief Executive Officer Bill Lomax expects the bank could expand its current lending capacity by between $250 million and $400 million.