ONTARIO – The Sheshegwaning First Nation and Waubetek Business Development Corporation are receiving funding through the Indigenous Economic Development Fund (IEDF).
On November 21, Minister of Indigenous Affairs Greg Rickford announced the first recipients of this year’s IEDF, which will provide up to $8.2 million in funding in 2019-2020. The first recipients include 26 projects from across Ontario and six aboriginal financial institutions. The IEDF is a part of the government’s commitment to support Indigenous economic development by supporting community-led projects.
The Sheshegwaning First Nation will receive $75,000 in funding for a Sheshegwaning Marina and Waterfront Development Project Feasibility Study.
As well, the Waubetek Business Development Corporation, along with five other Aboriginal financial institutions, will each receive $700,000 for the fiscal year 2019-2020, for a total of $4.2 million. The six aboriginal financial institutions invest directly in entrepreneurs, helping them access funds to get projects both big and small off the ground.
“Our government is committed to working with Indigenous communities as an essential part of building Ontario together,” said Minister Rickford. “We are proud to support these projects that strengthen local economies across the province and provide opportunities for economic development and job growth.”
The IEDF provides grants and financing to Indigenous businesses, communities and organizations. The fund helps promote economic development and improve socio-economic outcomes for Indigenous people.
Additional recipients are expected to be announced in the coming months. The next application intake for the IEDF is expected to be launched in spring 2020 through the Transfer Payment Ontario website.