Canadian PM Trudeau announces $221M business loan program for Black entrepreneurs | FULL
Prime Minister Justin Trudeau on Wednesday announced, in partnership with Canadian banks, nearly $221 million in funding to launch the Black Entrepreneurship Program, with the government contributing nearly $93 million over four years. It would help thousands of Black business owners through economic recovery from COVID-19. The funding will help support a National Ecosystem Fund, a Black Entrepreneurship Loan fund and a Black Entrepreneurship Knowledge Hub.
The announcement was made alongside Minister of Small Business, Export Promotion and International Trade Mary Ng, and MP for Hull-Aylmer, Greg Fergus.
Asked about the transition of programs like the Canada Emergency Response Benefit (CERB) towards Employee Insurance (EI) format despite people still dealing with COVID-19 business impacts, Trudeau stressed the need to continue following COVID-19 measures because “we are all still living in an emergency.” He said the change to longer-term programs is necessary to encourage people to return to work, but people must continue to be safe and adhere to measures in order to prevent a situation that may require a return to a full lockdown.
Trudeau also said he and his party have “no interest” in a fall election, saying they are focused on building the economy back following the COVID-19 pandemic. He said they’ll be putting forward a “strong, ambitious plan” forward for the government to vote on, and it would be up to Opposition parties to decide whether they have confidence in the plan. He said the Throne Speech would recognize inequities COVID-19 have highlighted, reduction of carbon emissions and other aspects he said the government has been focused on.
A total of 608 new cases were reported Tuesday, along with seven confirmed deaths.
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