'What kind of help do you need?' Canadian banks eye Indigenous investment in pipeline expansion
Mike LeBourdais, Chief of the Whispering Pines First Nation, says financial institutions are reaching out to
First Nations bands asking "what kind of help do you need."Photo by: CBC
With the Trans Mountain Kinder Morgan expansion project up in the air, Canadian banks are approaching Indigenous leaders in B.C. with offers to buy equity in the project, according to a First Nation chief in B.C.'s Interior.
Financial institutions are reaching out to First Nations bands, asking "what kind of help do you need," said Mike LeBourdais, Chief of the Whispering Pines First Nation.
The proposed Trans Mountain pipeline expansion would run through his reserve near Clinton.
Having shares in the pipeline could give First Nations communities a stake in the success in the project, and give the federal government some leverage in its pro-pipeline stance, despite opposition from several Indigenous groups living on or near the coast.
That will be the focus of a meeting between First Nations and the federal government later this month.
Federal Finance Minister Bill Morneau confirmed his department is "engaging with Indigenous peoples" on the matter, but wouldn't confirm whether it will help or collaborate with First Nations to seek equity in the Trans Mountain project.
First Nations groups would not disclose which banks had reached out to them, or what types of negotiations were underway.
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'What kind of help do you need?' Canadian banks eye Indigenous investment in pipeline expansion | CBC News
Great news for those forward-thinking First Nations communities.