Michael Bonshor appointed chair of Indigenous Loan Guarantee

Michael Bonshor has been appointed as the first chair of the Canada Indigenous Loan Guarantee Corporation (CILGC), effective March 10. The CILGC aims to provide $5 billion in loan guarantees to Indigenous communities for economic investments. The federal agency is currently recruiting a CEO for the program. A spokesperson indicated that strong interest has been shown from qualified candidates, with a selection expected in the coming months. Since its establishment, the CILGC has received numerous inquiries and is actively working on several applications. The first loan guarantee is anticipated to be issued later this year.