Prime Minister, Justin Trudeau, today announced important measures within agriculture programs and an investment of more than $252 million to support farmers, food businesses, and food processors. He also announced that the government intends to propose an additional $200 million in borrowing capacity for the sector.
Some of the other key highlights include:
- Creating a $77.5 million Emergency Processing Fund to help food producers access more personal protective equipment (PPE), adapt to health protocols, automate or modernize their facilities
- Launching a national AgriRecovery initiative of up to $125 million in funding to help producers.
- Announcing the intention to increase the Canadian Dairy Commission’s borrowing limit by $200 million to support costs associated with the temporary storage of cheese and butter to avoid food waste.
- Working with provinces and territories to increase interim payments from 50 per cent to 75 per cent through AgriStability, a federal, provincial and territorial program that supports producers who face significant revenue declines.