A First Nations economic group says it wants to help bands get the financial knowledge they need to help their communities.
The First Nations Financial Management Board is one of four Aboriginal-led institutions that were created through the federal government’s First Nations Fiscal and Statistical Management Act.
It provides bands with access to private capital so they develop their reserves.
The board’s chairman, Harold Calla, says there is a need for better financial literacy among First Nations communities.
Once they have that, he says it is easier for bands to demonstrate to outside investors that their projects can succeed:
“What we have are real situations in our communities today. We need to deal with the poverty in which we live. With the expanding opportunities First Nations are facing, they need tools to be able to do that.”
Calla says five First Nations recently met the financial performance standards established by his group and he is hoping to certify more.