Nault announces funding for RRFDC, First Nations

An infusion of $500,000 will be added to the Rainy River Future Development Corporation’s purse to provide capital for investment in the district, MP Robert Nault, Minister of Northern Development and Indian Affairs, announced today.
“This investment shows the level of commitment that the Government of Canada has in Northwestern Ontario,” said Nault. “This funding will enable the Rainy River Future Development Corporation to build on the strengths of the regional economy and help create more jobs.”
The $500,000 has already been spent in the RRFDC’s lending, chairman Telford Advent noted.
With the funding, the RRFDC has lent just over three million dollars for new and expanding businesses in the district.
“It’s crucial, absolutely crucial to small businesses in the area as banks are supporting fewer and fewer of them,” said Advent.
The announcement follows on the heels of an announcement by Nault earlier this week of over $309,000 in federal contributions through FedNor for the development of several northwestern Ontario First Nations’ economic diversification, tourism and telecommunications infrastructure development projects.
Of that, $30,000 will assist in the development of a computer network which will link Couchiching First Nation members to each other and the world to enable access to on-line training and research.
Another $50,000 in funding will be allocated to Grand Council Treaty No. 3 to conduct market research with the objective of becoming a hydroelectricity supplier in Northwestern Ontario and Big Grassy First Nation will receive $75,000 in federal funding for the Assabaska Ojibway Heritage Park.
Webequie First Nation will receive $40,000 to support the startup of a new aboriginal tourism company, Nibinamik First Nation will receive $83,000 to support a telecommunications project and $31,840 will be used to assist in the development of a resource development planning board which will oversee community-based initiatives in the Kasabonika Lake area.
“I am pleased at the amount of activity that is happening in our region and especially with the wide range of ideas that many of our First Nations entrepreneurs see as having business potential,” said Minister Nault.