TORONTO (Pakistan Point News / Sputnik - 14th May, 2020) The Trudeau government will provide $682 million in economic support for communities beleaguered by the ongoing coronavirus pandemic through regional development agencies, Innovation, Science and Economic Development Canada said in a statement on Wednesday.
"The new Regional Relief and Recovery Fund (RRRF) devotes nearly $962 million [$682 million USD] 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 statement said. "The best way to help Canadian communities is through a source they already trust, which is why the six regional development agencies (RDA) will be delivering this funding."
The program will provide $78 million for Atlantic Canada, $150 million for Quebec, $214 million for Ontario, more than $24 million for northern territories and in excess of $215 for provinces in Western Canada.
Last month the Federation of Canadian Municipalities (FCM) asked the government for $7 billion in emergency funding as municipalities continue to struggle with the economic impact of COVID-19.
In total, the Canadian government will spend over $100 billion on stimulus measures as the economy will likely remain beset by the virus in the coming months.
