In the 2025 Ontario Budget, the government announced that oversight of the Indigenous Opportunities Financing Program (IOFP) will be moving to the Building Ontario Fund (BOF), effective Q2 2025. The IOFP, previously known as the Aboriginal Loan Guarantee Program (ALGP), is currently administered by the Ontario Financing Authority (OFA).
The government also announced that it is tripling the size of the loan guarantee program, from $1 billion to $3 billion, to support more opportunities for Indigenous partners to access infrastructure project financing. Since its inception, the ALGP has facilitated access to capital for Indigenous partners to participate in large-scale electricity infrastructure projects.
We are deeply grateful for the government’s trust in BOF to manage the program and understand the responsibility it carries.
The loan guarantee program will continue to operate as it always has. This means that the application and review process, due diligence, and criteria for electricity generation and transmission projects, will remain the same for now. If you have been working on a project with someone at ALGP, they will continue to be your point of contact under IOFP.
In the 2025 Budget, the government proposed to expand the program to create more opportunities for Indigenous partners to participate in Ontario’s growth, with triple the funding available for loan guarantees and expanded eligibility beyond the electricity sector to include projects in energy, pipelines, mining and critical minerals, resource development and other sectors.
In addition to the IOFP’s expanded mandate, the program becomes part of a broader suite of infrastructure financing options available through BOF that creates more opportunities for Indigenous participation.
of electricity infrastructure projects in Ontario supported
in Indigenous equity participation supported
