In November 2025 Building Ontario Fund (BOF) launched an open call inviting individuals with experience in infrastructure financing, Indigenous economic development, and Indigenous community engagement to participate in an Indigenous Opportunities Financing Program (IOFP) Technical Advisory Roundtable. Individuals were selected based on their experience to provide valuable insights that will help shape the future of the IOFP as it expands to new sectors and more Indigenous financing tools are introduced by BOF.
The IOFP Technical Advisory Roundtable highlighted several important themes, outlined in this summary. For transparency on the IOFP re-design process, the following Roundtable insights are provided.
Participants emphasized the need for more flexible loan guarantee coverage, including the ability to offer 100% guarantees, allowing loan pre-payments, and supporting refinancing and rate swaps to reduce financing inefficiencies. Participants stressed that greater transparency and certainty around qualification criteria and underwriting principles are essential for Indigenous communities, lenders, and potential investors. Clearer rules and predictable processes would help attract new capital and support more effective participation of Indigenous communities in major projects.
Participants highlighted the importance of expanding the market for Indigenous financing by extending guarantees to greenfield and early-stage construction projects, as well as supporting Indigenous-led real estate development such as housing and long-term care. They also noted that more lenders are needed in the space and encouraged efforts to broaden the pool of financial institutions willing to finance Indigenous projects. Bundling multiple smaller projects into larger packages was identified as a way to create economies of scale, improve guarantee effectiveness, and make financing more attractive to lenders. Overall, these measures were seen as key to increasing access to capital and strengthening Indigenous participation across sectors.
Participants underscored a significant need for capacity funding to support pre-development activities such as due diligence, legal review, and financial modelling, noting that many Indigenous communities face acute challenges when assessing multiple, concurrent project proposals without dedicated resources. Participants emphasized that unlike private-sector proponents who often provide these supports, Indigenous-led projects often proceed without the necessary technical or financial capacity. Participants encouraged BOF to explore innovative tools to help close this gap, including options like convertible notes or structuring guarantee agreements to help cover advisory and professional fees.