Gov’t Outlines Position on Controversial Program
Wednesday, January 19, 2011 at 13:32
The federal government has reportedly disclosed documents outlining the thought process that went into the awarding of a controversial program.
For the last year or so, several Aboriginal financial institutions have raised objections over how Ottawa instituted the Loan Loss Reserve Initiative.
The program essentially gives five companies in Canada some security should the money they loan on-reserve businesses not be repaid.
This has angered many others who accuse the government of playing favourites.
Gord Mcintosh is a consultant for one of the groups fighting to be included in the program, the Tribal Wi-Chi-Way-Win Capital Corporation.
He says he’s not sure what happens next: he says the government has agreed to review the program, but it’s not known how long that will take.
McIntosh claims the Conservative Aboriginal Caucus has expressed support for their position in the fight.