COVID-19 Economic Supports | Mar 18, 2020
Today the Prime Minister announced economic support for workers and small and medium sized business owners facing hardship due to the nationwide effort to slow the spread of the COVID-19 virus. Please see the summary below for the latest updates.
Small Business/Farm Supports:
- Export Development Canada will provide further support for businesses. Farmers can gain a financial boost from Farm Credit Canada, other businesses can receive help through instruments like the Canada Account. Canadian Banks are committed to support businesses further and Union leaders are being consulted.
- On March 13, 2020 the federal government announced that the government is establishing a Business Credit Availability Program (BCAP) to support financing in the private sector through the Business Development Bank of Canada (BDC) and Export Development Canada (EDC).
Border to Remain Open for Commerce:
- Commerce will continue for goods coming into Canada.
Funds Set Aside to Enhance Health Care:
- The health and safety of all Canadians must be the government’s top priority.
- $1Billion has been set aside to enhance health care in the provinces and territories and indigenous communities, specific to their COVID-19 response.