IM-Hodgson-Smallridge_2024_0320.pub

Cultural and historical barriers translate into the unwillingness of non-Indigenous institutions to provide fair and unbiased treatment to Indigenous customers and clients. [...] An IDB that operates on broad commercial principles could mobilize financing for overall Indigenous economic development including resource and infrastructure projects, business start-ups, firm operations and expansion, development of value chains, and financing for Indigenous Nations, communities, infrastructure and housing. [...] To be credible and serve Indigenous economic development potential, the IDB should be an Indigenous-led institution, consistent with the principles of the UN Declaration of the Rights of Indigenous People. [...] Ideally, the bank would build overall Indigenous financing capacity by complementing and mobilizing other sources to fill market gaps, working with the grain of the existing financial system, and not simply be a lender of last resort or a competitor. [...] The bank should also develop and apply socio- economic development metrics to its business activities to show impact and not just financial return to investors and lenders.