Aboriginal Affairs and Northern Development Canada
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Backgrounder - Federal Framework For Aboriginal Economic Development
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Increasing Aboriginal participation in the economy is the most effective way to improve the well-being and quality of life of Aboriginal people in Canada. That is why the federal government has developed a new Framework, a modern and comprehensive approach to Aboriginal economic developpment.
The new Framework builds on the 2006 Advantage Canada long-term economic plan to improve Canada’s overall prosperity. In addition, it fulfills the Budget 2008 commitment to launch a fresh new approach to Aboriginal economic development.
The Federal Framework for Aboriginal Economic Development will guide federal actions across many departments and agencies by pursuing clear strategic priorities:
- Strengthening Aboriginal entrepreneurship
- Developing Aboriginal human capital
- Enhancing the value of Aboriginal assets
- Forging new and effective partnerships
- Focusing the role of the federal government
As part of the implementation of this Framework, the Government of Canada will invest $200 million over four years in new measures to support the above priorities by:
- Leveraging greater access to commercial capital
- Investing in efforts to promote Aboriginal procurement
- Supporting Aboriginal participation in resource development opportunities
- Accelerating the economic useof lands set aside through specific claims settlements
To develop this new approach, the Government held extensive discussions with other federal departments and agencies, provinces and territories, Aboriginal groups, private sector stakeholders, and the National Aboriginal Economic Development Board. It also benefited from the advice of the Standing Senate Committee on Aboriginal Peoples’ 2007 Report “Sharing Canada’s Prosperity – A Hand Up, Not a Handout”.
In the coming months, the Government of Canada will continue to work with Aboriginal people, businesses and communities to implement the Framework.