VANCOUVER- FMA institutions launch the RoadMap project: a practical framework for Indigenous economic reconciliation

VANCOUVER- FMA institutions launch the RoadMap project: a practical framework for Indigenous economic reconciliation

Canada needs to be moving Indigenous economic reconciliation forward. For too long First Nations and Canada have been fighting in the courts on the lack of consultation or accommodation of Indigenous rights and title. The resulting lack of clarity and the legal battles has led to delayed or failed projects, and assets being stranded in the ground.

“We see the answer resting with a proven platform of success through the Fiscal Management Act (FMA) institutions; the First Nations Tax Commission (FNTC), the First Nation Finance Authority (FNFA), and the First Nations Financial Management Board (FMB),” Harold Calla, Executive Chair, FMB. “These institutions are now launching the RoadMap project, which creates optional paths leading to Indigenous economic and fiscal reconciliation with Canada, and supports First Nations as they move from managing poverty to creating wealth.”

The Road Map offers realistic and implementable options to empower First Nations governments to move past the failed one-size-fits-all approach, and will support the implementation of UNDRIP through Indigenous-led initiatives. The FMA framework will promote growth while reducing risk. This will give Canada the confidence to support these new options for self-determination.

A critical mass of 321 First Nations governments are currently participating in the FMA – out of 579 Indian Act First Nations. And that number keeps growing. Access to affordable capital through the FNFA has been $1.6 billion in financing and has led to over 17,000 new jobs. These actions would create the opportunity for the growth of the Canadian economy and will benefit all. With the support of these institutions and others, RoadMap will create new, optional paths for First Nations as they take part in more economic development.

The RoadMap project will introduce and expand on policy concepts in six key areas to meet the practical needs of Indigenous governments: Statistics, infrastructure, economic development, jurisdiction and expansion of fiscal powers, and strength through working together, along with governance. Over the coming months, each of this six areas will be shared out as their own chapters, of the RoadMap project.

Ultimately this new Indigenous-led, risk-managed framework for First Nations economic reconciliation will support First Nations’ rights to self-government and self-determination. In doing so will RoadMap will also make Canada more equitable country and a more reliable place for investment and growth.

Useful links:
RoadMap I First Nations Financial Management Board (fnfmb.com)

About the FMB

The FMB is a First Nations-led nonprofit organization that supports First Nations in developing sound finance and administrative governance practices. The FMB was created under the First Nations Fiscal Management Act (“FMA”) in 2006. Services are fully optional and offered at no cost to First Nations. For more information on all products and services, visit www.fnfmb.com

Contacts:

Jollean Willington
Communications Manager
First Nations Financial Management Board
C 604-349-1149
Jollean Willington@fnfmb.com