Perfect, thank you.
Ms. Atwin, the reason Ernie and I, on behalf of the First Nations Finance Authority, are promoting this is that our board is selected from amongst the chief and counsellors that make up our membership, and 321 first nations across all 10 provinces and the Northwest Territories have joined. They have asked us to pursue this on their behalf. This is a voluntary request that they're making of us.
We saw a five-point plan for this. The first part is that every government sets priorities and policies. They can do it for clean water, housing and infrastructure. That's step number one.
Step number two is that the first nations who want to participate would submit shovel-ready projects that meet within those priorities or policies. Canada would choose which ones proceed.
In step three, FNFA would be asked to raise the monies. Since we are governed by the first nations, we raise monies on behalf of the first nations. It is symbiotic.
Step four would be for Canada to get into a contract with FNFA and the first nations to cover the annual loan service payments. Just like you cover your payments on a mortgage over time, Canada would cover this over time also.
Step five is a key one. The current pay-as-you-go model is that you build it, you walk away, you hope it's maintained and you hope it lasts its useful life. Step five is that we have contractual arrangements with our first nation communities. We will ensure that maintenance does occur, so the 25-year useful life of a house will last 25 years or 50 years, whatever its useful life is. The contractual arrangement is what saves Canada from coming back and building it a second time.
Thank you.