Back in 2021, the minister responsible for NRCan was directed to develop a national benefit-sharing framework. This was in direct response to action plan measure 33 in Canada's UNDA action plan.
One of the things that we've seen is that the work has stalled. In fact, it's probably safe to say that it's crashed out and needs to be rejuvenated, revitalized and put back on the list of priorities for this government.
What we see now in play is the indigenous loan guarantee program. There's an opportunity to promote equity and an ownership stake in major projects. However, that doesn't address the fundamental problems that first nations are facing in communities on a day-to-day basis. The indigenous loan guarantee program is focused on providing opportunities for nations that are already ready to receive that funding and to take ownership in a major project that's going to benefit the broader Canadian economy.
The reality is that many first nations are not there. They're not ready for that opportunity. There are more immediate and pressing challenges around infrastructure that need to be addressed first. The Assembly of First Nations has costed this at close to $400 billion to close the infrastructure gap, and that's just to bring first nations to parity with the rest of Canada.