Definitely. I think that's a very good way for first nations to access funding for different projects at good interest rates. One thing that's important about the First Nations Fiscal Management Act is that you have to show that you have proper financial and governance controls before you can borrow from them.
It really allows first nations, who increasingly are accessing own-source revenues, to collateralize—whatever the word is—and leverage those things in order to borrow money on the bond market. You have all kinds of examples. You have some first nations in the south with casino money. You even have some first nations trying to monetize cannabis sales.
I think it's a very good regime. I think I'd strongly encourage you as a committee to.... One thing that it can fund is housing projects. Also, it funds other infrastructure. I think it's very important.
One recommendation that you could consider is this. I've heard from very good indigenous business proponents who have called upon the government to consider giving its sovereign guarantee—Canada's credit rating—to that institution for first nations to be able to borrow against. Although some people say Canada's credit rating is not as good as it was in the past, it's still pretty good. That kind of backing would be appreciated.
There still would be those financial and governance controls to make sure that these are well-organized and well-run ventures.