Canada invests $962 million to small business and over $460 million for Canada’s fish harvesters
May 15, 2020
Global Korean Post
The COVID-19 pandemic has resulted in uncertainty and anxiety for small businesses and their employees in all regions of Canada.
Building on these measures, the new Regional Relief and Recovery Fund (RRRF) devotes nearly $962 million to help more businesses and organizations in sectors such as manufacturing, technology, tourism and others that are key to the regions and to local economies.
The six regional development agencies (RDA) will be delivering this funding.
The funding will be allocated as follows:
- $110 million for Atlantic Canada – Atlantic Canada Opportunities Agency(ACOA)
- $211 million for Quebec – Canada Economic Development for Quebec Regions(CED)
- $34.3 million for Northern Canada – Canadian Northern Economic Development Agency(CanNor)
- $252.4 million for Southern Ontario – Federal Economic Development Agency for Southern Ontario(FedDev Ontario)
- $49.5 million for Northern Ontario – Federal Economic Development Initiative for Northern Ontario(FedNor)
- $304.2 million for Western Canada – Western Economic Diversification Canada(WD)
Also,the Government of Canada is taking action to support those workers, who help provide families and communities across the country with high-quality fish and seafood.
The Prime Minister, Justin Trudeau on May 14 announced up to $469.4 million in new measures to support Canada’s fish harvesters, who are economically impacted by the pandemic but cannot access existing federal measures.
This investment builds on the $62.5 million for the new Canadian Seafood Stabilization Fund announced last month to help Canada’s fish and seafood processing sector.