The Globe and Mail reports in its Wednesday edition that a first-nation-led financing model has reached $2-billion in loans issued as it works to close the economic and infrastructure gap between member nations and the rest of Canada. A Canadian Press dispatch to The Globe says that the First Nations Finance Authority (FNFA) is crossing the lending threshold a decade after issuing its first debenture -- a type of long-term loan that is not backed by collateral. The not-for-profit FNFA pools resources of member nations into a scale that allows it to offer discounted interest rates to borrowers, similar to what is accessible to municipal or provincial governments. Ernie Daniels, chief executive officer of FNFA, said that the institution's relending rate is 2.92 per cent below bank prime rates, allowing members to build much-needed infrastructure at a discount. The FNFA says lending since 2014 from the fully self-sufficient institution has helped create almost 20,000 jobs. One of its biggest deals to date is helping in the Mi'kmaw First Nations' acquisition, in partnership with Premium Brands, of Clearwater Seafoods in 2020. The overall infrastructure financing gap among first nations is estimated at almost $350-billion.