The first meeting of the Alberta Indigenous Opportunities Corporation. (Supplied by Government of Alberta)

By David Opinko

Alberta Indigenous Opportunities Corporation launches

Jan 28, 2020 | 10:20 AM

EDMONTON, AB – A new first-of-its-kind Crown Corporation aims to help Indigenous groups in Alberta become the owners of resource projects.

The Alberta Indigenous Opportunities Corporation (AIOC) will allocate up to $1-billion in investment support, such as loan guarantees, to qualified First Nations seeking to take an equity position in major resource projects.

“It will also help all Albertans to get resource projects done,” says Premier Jason Kenney. “With the board now in place, the AIOC can now fulfill its mandate to enfranchise Indigenous communities in Alberta, to lift their people from poverty to prosperity by becoming partners in the energy projects that have created so much wealth for our province.”

Indigenous governments can aim to invest in the energy (including oil and gas, renewable energy, and coal), mining, and forestry sectors in Alberta or in other provinces.

Applicants must be able to invest a minimum of $20-million, which can be contributed as part of a coalition of organizations.

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“The Alberta Indigenous Opportunities Corporation will benefit Indigenous Peoples and all Albertans,” says Indigenous Relations Minister Rick Wilson. “Indigenous Peoples were the first entrepreneurs in this country and are open to doing business. I would like to thank the board for giving their time and extensive expertise to help the First Nations and Métis people of Alberta become true partners in prosperity.”

Interim CEO Matthew Machielse has been meeting with Indigenous, industry, and financial leaders to learn more about potential projects that would have lasting benefits for Indigenous communities.

The AIOC’s board members include Chair Cody Church, Vice-Chair Stephen Buffalo, Heather Barnhouse, Gary Bosgoed, Strater Crowfoot, Aroon Sequeira, Peter Williams, and Donavon Young.