In a recent interview, Hillary Thatcher, the Managing Director of Investments at the Canada Infrastructure Bank (CIB), shared her insights into building partnerships with Indigenous communities and her role in driving inclusive infrastructure development. From utilising CIB's capital to catalyse investment in Indigenous projects to advocating for early engagement and genuine collaboration, Thatcher explains the transformative potential of strategic investments and meaningful collaborations in empowering Indigenous peoples across Canada.
On Partnering with Indigenous Communities and Her Current Role as Manager and Director of Canada Infrastructure Bank
Over the past few years, her efforts have yielded tangible results, with over $250 million in financing secured and 11 direct deals closed with Indigenous communities.
Transitioning from a brief stint in the federal government to her current role at CIB, she found a platform where she could put her expertise to better use and that is to empower Indigenous communities. Through concessionary financing mechanisms, she facilitates opportunities for communities to take control of their own affairs, steering them towards self-determination and sustainable growth.
Central to Thatcher's approach is a commitment to cultural sensitivity and community engagement. Recognising the consensus-based decision-making prevalent in Indigenous communities, she highlighted the importance of delivering investments in a manner that aligns with community values and priorities. As a lender, CIB empowers communities to chart their own course, fostering successful projects that generate revenue and enable reinvestment in areas of critical importance to Indigenous peoples.
Her journey is emblematic of a broader shift towards inclusive and equitable development. Drawing upon her experience in both the public and private sectors, she advocates for early engagement and genuine collaboration with Indigenous communities. By listening to the voices of elders, learning from youth, and embracing Indigenous storytelling traditions, she highlighted the wealth of knowledge and innovation present within Indigenous communities.
Moreover, she recognised the intimate connection between Indigenous communities and the land they inhabit. In infrastructure projects, particularly those in the natural resource sector, Indigenous perspectives offer invaluable insights into environmental dynamics and resource utilisation. By involving Indigenous stakeholders in project planning and execution, she believes that projects can be built more efficiently and sustainably, ultimately benefiting both communities and investors alike.
Her vision extends beyond mere financial transactions; it encompasses a broader ambition of Indigenous empowerment and economic self-sufficiency. Through strategic investments in community infrastructure, such as housing, water, and energy projects, CIB aims to promote sustainable development and improve quality of life for Indigenous populations across Canada.
As she continues her journey at the helm of Indigenous investment initiatives, her dedication serves as a beam of hope for Indigenous communities nationwide. By creating meaningful partnerships, embracing cultural diversity, and championing Indigenous voices, she embodies the spirit of collaboration and progress in the quest for a more inclusive and prosperous future for all Canadians.
Strategies for Community Reinvestment
Backed by nearly two decades of extensive experience in various capacities within the provincial government of Ontario, she has illuminated the paramount importance of early community engagement in infrastructure projects. She emphasises the need to approach these engagements with open minds, hearts, and ears, recognising that communities hold the key to innovative solutions. Thatcher underscores the role of infrastructure development as an enabler, aiming to break systemic biases and unlock opportunities that have long been overlooked. Throughout her career, she has contributed invaluable insights from direct collaboration with communities, using the wisdom of elders and the perspectives of youth to realise the untapped potential within Indigenous territories.
Moreover, Thatcher highlights the inherent knowledge possessed by Indigenous communities regarding the land they inhabit. Drawing from her experience in energy and infrastructure sectors, she acknowledges the invaluable contributions of Indigenous perspectives in project planning and execution, particularly in natural resource endeavours. Obtaining the cost-saving benefits of involving Indigenous stakeholders early in the process, citing their intimate familiarity with the land's nuances, she hopes to bridge the gap between technical expertise and indigenous wisdom.
Goals and Objectives
Regardless of Indigenous background, whether First Nations, Métis, or Inuit, she is steadfast in her commitment to ensuring that these communities can realise their full potential and reap the rewards that have historically been denied to them.
Her dedication to Indigenous economic empowerment extends beyond her professional endeavours, as she shares a personal connection to the cause through her marriage to an Inuit individual. Together, they navigated the landscape of Indigenous economic development, with Thatcher's husband also playing an important role in the field as an economic development professional at Scotia Bank.
Their shared vision provided an avenue for the transformative power of economic prosperity within Indigenous communities to become a means to not only alleviate poverty but also to empower communities with a stronger voice and greater control over their own destinies. Through their collective efforts, Thatcher and her husband are dedicated to creating pathways for Indigenous communities to transition from poverty to wealth, fostering a future where economic empowerment serves as a catalyst for positive change and self-determination.
On Transformative Projects
One of the projects that she is involved in is the collaboration with Netmazungumming First Nation, formerly known as Pic Mobert First Nation, in Ontario. Over two decades ago, she began working with this community, recognising the pressing need for infrastructure development to address social challenges and spur economic growth. Despite having acquired vast lands, the community faced difficulties in securing financing for essential infrastructure such as housing, community centers, and water distribution systems.
Netmizaaggamig Nishnaabeg Reserve Extension
Source: https://www.picmobert.com/
With a dedicated team comprising both Indigenous and non-Indigenous professionals, she devised a solution to merge various infrastructure components into a single facility, facilitating a loan to the community. This innovative approach allowed for the immediate realisation of infrastructure projects that would otherwise have been delayed for years while awaiting grants. Thatcher's team helped the Netmazungumming First Nation use lease revenues to pay off a loan. This allowed the community to develop locally and bring back members who had moved away because of housing shortages.
Another notable project highlighted by Thatcher involves the partnership with the WMA group, representing 13 Mi'kmaq communities in Nova Scotia. Through strategic lending, CIB facilitated equity investments in battery storage projects, enabling Indigenous communities to generate revenue and assert ownership in renewable energy initiatives. This project not only addresses the pressing need for sustainable energy solutions but also empowers Indigenous communities to harness their resources and reinvest in future economic development.
Wind Projects to Produce Electricity From Renewable Sources
Source: https://www.cbc.ca/news/canada/nova-scotia/n-s-selects-five-projects-largest-ever-wind-procurement-1.6553677
On Infrastructure Bank
Reflecting on the transition of their former Chief Administrative Officer to the CEO position at the UK bank, Thatcher expressed admiration for her colleague's contributions to advancing Indigenous investments. She emphasised a shift in focus from large-scale investments to more targeted and impactful projects, such as a $7 million loan to a community—a testament to their commitment to Indigenous communities' prosperity.
She outlined CIB's ambitious goal of allocating at least a billion dollars to projects benefiting Indigenous communities, highlighting the robust pipeline of initiatives poised to surpass this target. This commitment, she stressed, is not merely a benchmark but a minimum threshold, underscoring the widespread consensus within the organisation. With a firm dedication to inclusive infrastructure development, Thatcher and her team are poised to exceed expectations, catalysing positive change and economic empowerment for Indigenous communities across Canada.
Challenges Indigenous Investors Face
With all the challenges that impede successful outcomes of projects and initiatives, she stresses the vital role that building relationships with Indigenous communities plays in cultivating genuine collaboration and mutual respect. She points out the pitfalls of companies approaching communities only after project development has commenced, risking conflicts over sensitive issues like ancestral lands or cultural sites. To mitigate such risks and to ensure inclusivity, she advocates for early involvement of Indigenous stakeholders in project planning and decision-making processes. Additionally, she encourages companies to prioritise diversity on their boards and project leadership teams, ensuring Indigenous voices are heard, represented and respected. Ultimately, she emphasises that involving Indigenous communities from the outset leads to more successful and sustainable investment projects, benefiting all parties involved.
The Canadian Indigenous Investment Summit
The Canadian Indigenous Investment Summit serves as a crucial platform where investors, visionary leaders, and Indigenous communities can share a common business goal. The focus is not only on gathering for one event, but on building a fruitful partnership and creating a movement that unites all investment sectors to promote sustainable economic growth.
The summit offers valuable resources and insights through our team of subject matter experts across various sectors, facilitating access to meaningful Indigenous investment opportunities throughout Canada. Whether you're an investor or eager to deepen your understanding of Indigenous investment, we provide a platform for impactful discussions and the exchange of valuable insights. With a diverse array of investments converging, we ensure that attendees of the summit will benefit from a seamless and efficient business environment. Register your interest and save a spot at the summit.
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