During this economically-uncertain time, there’s been plenty of talk about financial assistance for Canadians.
But what about financial assistance specifically for the agriculture industry?
CKDM spoke with Maryam Monsef, the Federal Minister of Rural Economic Development, to find out more about what’s being done at the federal level to support farmers and agriculture producers.
“There’s a recognition that we need to still be able to get goods to and from our biggest trade partner; the United States. So we’ve ensured in the health and safety measures we’ve taken around COVID, that the Canada-US border still allows the trucks to pass through and continue their work.”
The Minister explains there's also a special travel exemption that will allow temporary foreign workers to enter Canada.
“We were able to ensure that temporary foreign workers are able to continue to work on these farms and provide their important services.”
On Monday, the prime minister announced significant investments in Farm Credit Canada. That means an additional $5 billion in lending capacity will be available to producers, agribusinesses, and food processors.
Trudeau also announced eligible farmers with an outstanding Advance Payments Program (APP) loan due on or before April 30 will receive a Stay of Default, allowing them an additional six months to repay the loan.