Feds roll out $962-million Regional Relief and Recovery Fund
Today, the federal government rolled out the nearly $1-billion Regional Relief and Recovery Fund (RRRF) hoping to help businesses who may have fallen through the cracks of the Canada Emergency Business Account and the wage subsidy.
Canada’s Minister of Economic Development and Official Languages announced today that the RRRF is now accepting applications from businesses and communities.
Melanie Joly says the RRRF gives $962-million to help sectors such as manufacturing, technology, tourism and seasonal businesses. The rest of the money will be distributed to Community Future Development Corporations for businesses in rural areas. Covering every region of Canada, the six Regional Development Agencies (RDA) will be delivering this funding.
Joly says $110-million will go to the Atlantic Canada Opportunities Agency (ACOA), $211-million for the Canada Economic Development for Quebec Regions (CED), $34.3-million for Canadian Northern Economic Development Agency (CanNor), $252.4-million for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), $49.5-million for the Federal Economic Development Initiative for Northern Ontario (FedNor), and $304.2-million for the Western Economic Diversification Canada (WD)