IOFP Frequently Asked Questions

Why is the ALGP/IOFP moving to BOF?
As stated in the 2025 Ontario Budget, BOF will administer the program on behalf of the Province. The loan guarantee program has been successful in creating opportunities for Indigenous partners to access capital for energy infrastructure projects since its inception in 2009. With the move to BOF, the program will become an integrated part of a broader toolset meant to enable Indigenous participation in infrastructure projects, which will create more opportunities to expand the reach of the program and for Indigenous economic participation.
There will be no change to the existing process or the team. Please continue to work with your ALGP/IOFP rep as you normally would.

Plans for the transition are already underway and we expect it be complete, with IOFP staff working out of BOF in Q2 2025.

BOF’s mandate includes support for infrastructure projects that advance community and economic wellbeing for Indigenous partners. The IOFP will become an integrated part of a broader toolset meant to enable Indigenous projects, which will create more opportunities to expand the reach of the program and for Indigenous economic participation.

For now, the IOFP will function as it has been, albeit with a larger budget and an expanded roster of eligible sectors.  In time, the program will integrate into BOF’s suite of investment opportunities with an expanded scope of financing tools to create more Indigenous financing opportunities, supported by a team of experts in infrastructure financing and capital markets. Ultimately, BOF will provide a one-stop solution for Indigenous partners to access a broader array of infrastructure financing tools, with the loan guarantee program being one of many.

There are several important projects that have included Indigenous participation with the support of IOFP (ALGP). For example, ALGP played a role in the Wataynikaneyap Transmission Project, a transformative initiative that made a meaningful difference in the communities where the transmission line was built.

In order to be eligible to apply for a loan guarantee under the IOFP, an applicant must be an entity that is wholly owned by one or more Indigenous partners and must use the loan proceeds to fund a portion of its equity investment in a project. The details about the application requirements can be viewed here. They include:

  • Experienced proponents and project partners or contractors with track records in construction and building operations.
  • An agreement in place to purchase energy or regulatory approvals for rate-regulated projects.
  • Sufficient cash to service the guaranteed loan and other obligations of the applicant under the proposed size and terms of the loan.
  • Confirmation of support of the Indigenous community for the project and the loan guarantee (for example, a Band Council Resolution).
  • Security pledged in support of the guaranteed loan, satisfactory to the Province.

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