New Fund To Create Economic Opportunities For First Nations

VICTORIA - The government will provide $10 million per year for three years to support economic development projects involving First Nations, Minister Responsible for Treaty Negotiations Geoff Plant announced yesterday.

The Economic Measures Fund will support local initiatives that create new opportunities for First Nations in areas that are provincial priorities for economic development - oil and gas, tourism, forestry, aquaculture and the Olympic bid. First Nations, whether in or out of the B.C. treaty process, may become involved in funded initiatives.

"I'm pleased that cabinet has approved this initiative, which will provide First Nations with $30 million over three years to expand business skills and knowledge, and increase employment opportunities for First Nations," Plant said. "The fund will improve access to training and enhance First Nations participation in provincial economic priorities. Ultimately it will increase investment opportunities and improve the business profile of British Columbia.

"Our government made a New Era commitment to increase program funding, together with the federal government, to solve urban challenges and build capacity for First Nations. In addition to treaty-making, we believe the government can and must do more to materially improve the quality of life, education and health care of aboriginal families.

"We have already increased funding to double the First Citizens Fund to $72 million over four years. Today's initiative is another step to help ensure that First Nations have the skills, opportunities and capacity to share fully in a prosperous future."

The Treaty Negotiations Office will manage the fund for government in a strategic, co-ordinated manner. The fund adopts a business approach to projects incorporating performance targets, assessment criteria and review by senior levels of government. Federal and local governments as well as private sector representatives will be involved in projects supported by the fund. Full consideration will be given to projects that present a strong business case and contribute to economic growth.