More details have been released from budget 2023 and that included a 50 per cent boost to the Aboriginal Business Investment Fund (ABIF).
“Access to capital is vital for Indigenous Nations and communities to invest in rights, resources and build economies.”
The goal of the increase is a focus on community owned businesses which directly benefit their communities and to reduce barriers so more communities can have access to the ABIF.
This will also include a more flexible application process for grants which will allow more time for the government and communities to work together in order to improve application submissions. However, as each ABIF grant can be between $150,000 and $750,000. Communities must own and control 51 per cent or more of the proposed project.
Makiinima, Chief Roy Fox, Kainai Blood Tribe said in a press release.
“Access to capital is vital for Indigenous Nations and communities to invest in rights, resources and build economies. Programs like the Alberta government’s ABIF help facilitate growth. For financial sovereignty, we need equal access to the same tools others have.”
The new grant system will be in affect as of April 21st and people can apply through the government of Albert’s website.
