Former Ring of Fire executive named CEO of $10B Indigenous loan corporation

Kristan Straub of Henvey Inlet First Nation was named the inaugural CEO of the Canada Indigenous Loan Guarantee Corporation, which now oversees a $10-billion program to support Indigenous equity in major projects.

Kristan Straub of Henvey Inlet First Nation has been named the inaugural CEO of the Canada Indigenous Loan Guarantee Corporation. The CILGC is a federal loan guarantee vehicle created to support Indigenous equity in major projects. It was established in late 2024 with $5 billion and later expanded to $10 billion with a broader mandate. Straub previously served as a senior executive at Wyloo Metals, which is active in Ontario’s Ring of Fire region. Key facts: - Kristan Straub was announced as the CILGC’s first CEO. - Straub served three years as a top executive at Wyloo Metals, linked to the Ring of Fire. - Annie Sismanian, a former Wyloo colleague, joined the CILGC earlier as chief financial officer. - The CILGC was created in late 2024 with $5 billion; Ottawa later doubled funding to $10 billion and broadened the mandate to include sectors such as infrastructure, transportation and trade. - The CILGC issued its first government-backed loan last summer: $400 million to 38 B.C. First Nations to help acquire a 12.5 per cent stake in Enbridge’s Westcoast pipeline. - Applicants generally seek loans between $20 million and $1 billion, and the corporation says it will prioritize projects referred to the Major Projects Office and work with Indigenous investors on greenfield projects. Summary: The appointment comes as the CILGC is positioned to support Indigenous participation in large, capital-intensive developments and to be part of the federal government’s major projects financing framework. Budget 2025 directed the Major Projects Office to help coordinate financing through public investment vehicles such as the CILGC. Undetermined at this time.