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Interim Financing
One of the objects of the FNFA will be to provide interim financing for First Nation governments and to other First Nation public institutions. A short-term debt fund will be established. The interim finance pool will typically be 1% to 2% below prime.
Participation in the interim-financing program will be voluntary. The FNFA may provide financing for one or more of the following purposes:
- temporary financing of capital projects,
- short-term capital borrowing up to 5 years,
- revenue anticipation borrowing, and
- temporary financing to meet current operating expenditures.
The benefits of the interim-financing program are reduced costs to First Nation governments and flexibility in financial planning through the financial strength of the collective credit of the FNFA. |
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