Tuesday, May 5, 2020

Today, the Prime Minister announced new funding of $252 million for farmers, food businesses, and food processors. You can  read the full announcement here, highlights include:

• Creating a $77.5 million Emergency Processing Fund to help food producers access more personal protective equipment (PPE),
• Launching a national AgriRecovery initiative of up to $125 million in funding to help producers faced with additional costs incurred by COVID-19.
• Announcing the intention to increase the Canadian Dairy Commission’s borrowing limit by $200 million
• Launching a first-ever Surplus Food Purchase Program with an initial $50 million fund designed to help redistribute existing and unsold inventories
• Working with provinces and territories to increase interim payments from 50 per cent to 75 per cent through AgriStability
• Working with provinces and territories to explore possibilities for expanding the AgriInsurance program