Prime Minister announces $5 billion for loans and APP repayment terms
The federal government is immediately providing funds for farmers in the wake of the COVID-19 pandemic.
Farm Credit Canada (FCC) will receive an enhancement to its capital base that will allow for an additional $5 billion in lending capacity.
Making the announcement this morning, Prime Minister Justin Trudeau said the new measures will support farmers and agri-food businesses in Canada facing financial hardship.
“For farmers and people across the agrifood business, I know these are hard times. We’re opening up $5 billion in additional lending capacity. Farmers and producers can apply through FCC for the support they need to keep food growing and get it onto our tables,” Trudeau said.