Lheidli T’enneh First Nation and Tano T’enneh Enterprises announced a $10 million equity investment in First Nations Bank of Canada (FNBC) securing 8.64 per cent ownership stake between the two.
This investment will look to bolster economic development not only for the First Nation, but also Prince George and other communities.
Chief Dolleen Logan said we need to find more major projects to come to Prince George.
“Everyone knows mills are shutting down, pulp mills are shutting down, threatening shutdown, and we need to find some more economic development within Prince George for our whole communities, and with the bank, it makes it so much easier.”
One project in the works with the help of the bank is the windmill project, which is expected to be completed at around 2032.
Logan said the investment is exciting, and is a security for the future to support the next generation.
FNBC CEO Bill Lomax said the more success we have here , the more success there’s going to be further in the north.
“This is really, one of our top hubs that we’re interested in nationwide, because there’s just so much economic development potential here, so many nations that see this as their central hub.”
“It gives us an opportunity and a foothold to the north that is hard to replicate any place else.”
Lomax added they seek to have operations, and are starting discussions with Lheidli T’enneh First Nation, who will have reserve land in Prince George soon.
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