BOF’s mandate includes support for infrastructure projects that advance community and economic wellbeing for Indigenous partners. Under BOF, the IOFP will be expanded to enable Indigenous ownership of infrastructure projects and create more opportunities for economic participation.
The Indigenous loan guarantee program aligns with BOF’s mandate and under the Fund’s management, the program will be expanded, based on engagements with Indigenous partners. As stated in the 2025 Ontario Budget, the administration of the program on behalf of the Province was transitioned to BOF as of October 1, 2025. Since its inception in 2009, the loan guarantee program has been successful in creating opportunities for Indigenous partners to access capital for energy infrastructure projects.
BOF is engaging Indigenous leaders, organizations, and communities through roundtables, bilateral meetings, and partnerships. Feedback from these engagements is directly shaping program design and delivery.
Based on engagements with Indigenous partners, starting in the fall of 2025, the IOFP is being enhanced to include additional financing tools, and with the goal of offering one-window access for Indigenous partners seeking infrastructure financing support.
BOF worked closely with the Ministry of Finance (MOF), Treasury Board Secretariat (TBS), and the Ontario Financing Authority (OFA) to ensure a smooth transition, and with no disruption to existing commitments. The program’s core eligibility criteria remain intact, and BOF is introducing enhanced reporting and public communications to ensure transparency. Indigenous partners are being, and will continue to be, engaged in shaping the program’s future direction.
The IOFP (formerly ALGP) has supported several transformative projects. One example is the Wataynikaneyap Transmission Project, which brought reliable electricity to 17 remote First Nations communities. In July 2025, the Chatham-Lakeshore Transmission Line – owned and operated by Hydro One – announced Caldwell First Nation’s participation in an IOFP loan guarantee of up to $45 million through its business development arm, Northwind Business Development LP. The transaction was part of a 50-50 First Nation Equity Partnership with Hydro One and other impacted Anishinaabe First Nations whose traditional territories are located along the route of the transmission line.
Eligibility for a loan guarantee requires that applicants be Indigenous-owned entities investing equity in infrastructure projects. Key criteria include:
Under BOF, the program will maintain these criteria while expanding sector eligibility and offering more financing tools.
Success will be measured through metrics such as:
• Number of Indigenous-led projects supported
• Percentage of project distributions shared with Indigenous communities
• Geographic and sectoral diversity
• Long-term community benefits
BOF will also track progress through regular reporting and engagement with Indigenous partners to gauge the progress of the program.
By enabling Indigenous equity participation in infrastructure, the IOFP supports self-determination, economic development, and long-term prosperity for Indigenous communities.
Expanded participation of Indigenous partners is expected to unlock new revenue streams, job creation, and community infrastructure.
Yes. BOF will publish regular updates, including investment summaries, impact metrics, and case studies. These will be available on BOF’s website and shared with Indigenous partners to ensure transparency and accountability.
