Good afternoon, Mr. Chair.

Thank you.

I, too, would like to acknowledge that we are gathered on the traditional and unsurrendered territory of the Algonquin Anishinabe people.

My name is Michelle. I'm the associate deputy minister at Indigenous Services Canada, and I'm joined by my colleague Jessica Sultan—in a very tangled earpiece—who is the director general of our economic policy development branch.

Today, I'll be discussing how my department is following the example of indigenous leaders, and working with them to eliminate systemic barriers to economic development and support greater self-determination.

Economic reconciliation, whether through supporting indigenous entrepreneurs, enabling job creation in indigenous communities or helping ensure that indigenous peoples have access to the capital they need for equity in major projects, is about making sure that everyone has equitable access to economic opportunity. This will be achieved by supporting and responding to priorities brought forward by indigenous leaders and by taking responsible action to remove economic barriers. This is something we aspire to do at Indigenous Services Canada.

I'd like to highlight very briefly some of the key programs that target economic development. Budget 2024, as you probably know, announced $350 million for the aboriginal entrepreneurship program to continue to support indigenous enterprises and help them access affordable capital. This investment will enable job creation and stimulate economic activity in indigenous communities.

The indigenous loan guarantee program is an additional tool to ensure that indigenous communities have access to affordable capital in order to optimize indigenous equity participation in major projects. We also have an initiative called the strategic partnerships initiative, which builds capacity for indigenous participation in economic development opportunities, such as local, economically sustainable clean-energy projects.

Through partnerships with many federal departments, provincial and territorial governments, as well as non-federal groups, the strategic partnerships initiative helps to fill gaps in existing federal programs and mobilize other sources of funding to provide indigenous communities with as much economic development support as possible.

The federal government is also supporting economic reconciliation by driving demand to indigenous businesses via the implementation of a requirement to ensure that at least 5% of the value of government contracts is awarded to businesses owned and controlled by indigenous peoples, and by respecting modern treaties that include procurement obligations.

Finally, the development of an economic reconciliation framework will unlock opportunities to advance self-determination and economic reconciliation by ensuring that indigenous peoples can meaningfully participate in and shape the decisions that make economic growth possible.

Indigenous peoples will set their own economic objectives to achieve their vision of economic prosperity and well-being.

We know there's a lot more work to do when it comes to advancing indigenous economic reconciliation, but we're up for the task.

I would be happy to answer any questions the committee may have.

Thank you.