Minister responsible for Western Economic Diversification Canada Mélanie Joly announced an additional $263.7 million for Western Economic Diversification Canada (WD) to help businesses across the West on Friday.
This was part of $600 million in new national Regional Relief and Recovery Fund (RRRF) funding announced by Prime Minister Justin Trudeau.
According to a release, the RRRF helps support those who may not be eligible for other programs. Since the RRRF was launched in May as part of Canada’s COVID-19 Economic Response Plan, over 20,000 jobs have been protected across the West, helping more than 5,000 businesses keep their employees, cover costs and play a role in Canada’s economic recovery.
“Small and medium-sized businesses have been hit hard by COVID-19, and the Regional Relief and Recovery Fund is here to help them, protecting over 20,000 jobs across Western Canada. As the situation rapidly evolves, we’ve heard clearly from businesses and workers that more support is needed. That’s why we’re enhancing and expanding the RRRF to help even more Westerners,” Joly said.
Across Western Canada, demand for RRRF support has been high since the program began in May. RRRF assistance has helped businesses by stabilizing firms that might otherwise not have survived, preserving intellectual property and skilled staff, maintaining critical supply chains and protecting valuable technologies.
WD is taking a demand-driven approach to ensure that RRRF funding goes where it is needed most, serving businesses in greatest need to protect local jobs and sustain vibrant communities.
Businesses in Western Canada that have applied for, but were unable to get access to, sufficient relief from other federal COVID-19 programs, are encouraged to review RRRF eligibility requirements or to contact WD for more information. For those that have already applied for RRRF support, no further action is required as WD continues to process previous applications.
Businesses in Western Canada that have applied for, but were unable to get access to, sufficient relief from other federal COVID-19 programs, are encouraged to review RRRF eligibility requirements or to contact WD for more information. For those that have already applied for RRRF support, no further action is required as WD continues to process previous applications.
The RRRF addresses needs for entrepreneurs not met by other federal relief measures, and complements those already provided by other levels of government.
Western Economic Diversification Canada was originally allocated a total of $304.2 million through the RRRF. Friday’s announcement brings the total RRRF funding for Western businesses and organizations to $567.9 million.
