Mr. Speaker, I thank the member for the chance to further answer her question.
Today, I speak in strong support of the government's unwavering commitment to consulting with indigenous people and fostering genuine opportunities for indigenous equity in major projects. Canada stands at a pivotal moment in its journey to reconciliation, one that calls for true partnership and meaningful action. This commitment is not just a promise; it is embedded in our legislation and operational practices, ensuring indigenous rights are upheld and indigenous knowledge is actively incorporated into assessments for all projects of national interest.
A critical feature of the newly created Major Projects Office is its indigenous advisory council. This council brings together 11 exceptional representatives from first nations, Inuit, Métis and modern treaty and self-governing communities from across the country. The council's expert advice shapes policy and improves operational practices, guaranteeing that indigenous perspectives and interests are truly embedded in major project decision-making. This is not just an advisory role in name only; its contributions will have tangible impacts on project design, execution and outcome, reflecting our dedication to nation-to-nation, government-to-government and Inuit-Crown relationships grounded in respect and recognition of rights, including the United Nations Declaration on the Rights of Indigenous Peoples.
We know that reconciliation and economic transformation go hand in hand with the inclusion of indigenous peoples. That is why our government has doubled and expanded the indigenous loan guarantee program. Initially launched as a $5-billion initiative, this program now dedicates $10 billion to supporting indigenous peoples' participation in capital, not only in energy and natural resource projects, but also in infrastructure, transportation and trade projects. This program addresses persistent barriers to financing and encourages indigenous communities to participate in major projects, thereby opening new avenues to prosperity.
However, our work does not stop there. The Major Projects Office has made significant financial commitments totalling $40 million over two years to strengthen indigenous peoples' ability to participate in major projects. From the earliest stages of project development, these targeted investments help participants hone technical skills, deploy clean technologies and support indigenous communities in their energy transition and sustainable resource development.
Advancing reconciliation is not only the right thing to do, it is also essential to Canada's long-term economic growth and environmental stewardship. Our success depends on building strong, respectful relationships with indigenous peoples, who are the original stewards of this land. We are therefore taking bold and historic steps to ensure that indigenous peoples have access to capital and are truly part of the prosperity that these projects generate.