Funding by the province will be provided to Lake Babine Nation to support economic recovery from the pandemic.
$22 million will be accelerated ahead of schedule under the 2020 Lake Babine Nation Foundation Agreement.
According to the province, this accelerated payment will mean the Nation can initiate development and forestry investments on a larger scale.
It added the Nation will create a new Sovereign Wealth Plan to protect, invest and grow the investment.
The province also said $7 million was originally supposed to be provided this year under the Foundation Agreement but the province is now providing $30 million immediately.
The Foundation Agreement was signed by Canada, B.C. and the Lake Babine Nation last September and provides a roadmap how the parties will work together to advance self governance, boost economic development, collaborate on major land and resource decisions and promote community health and well-being.
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