(AGENPARL) - Roma, 21 Aprile 2023 - (AGENPARL) – ven 21 aprile 2023 [Manitoba Media Notice]
April 21, 2023
Manitoba Government Launches Renewed
Business Loan Program Focused on Creating Jobs, Increasing Economic Opportunities in the North
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New Communities Economic Development Fund Business Loan Program Will Support Key Sectors of Growing Northern Economy: Wharton
The Manitoba government is re-opening the Communities Economic Development Fund (CEDF) Business Loan Program to support northern economic development, Economic Development, Investment and Trade Minister Jeff Wharton announced today.
“Our government is making investments to support the development of high-impact, strategic projects that will help drive growth in our province,” said Wharton. “The CEDF Business Loan Program will support key sectors of our growing northern economy and help fill financing gaps for businesses that are creating jobs and opportunities in the north.”
The CEDF Business Loan Program provides repayable loans for high-impact economic development opportunities where traditional funding may not be available. Eligible projects include:
– natural resource initiatives such as mining, forestry and commercial fishing;
– First Nations partnerships; and
– strategic infrastructure.
The minister noted loans of up to $2 million are available to business entities in northern Manitoba or Indigenous entities or partnerships that promote and/or enhance Indigenous economic development outside the city of Winnipeg.
Applicants must present business plans that demonstrate the strategic benefit of the project for the community, province or northern Manitoba, including local employment impacts, the minister said.
CEDF is the Manitoba government’s northern economic development partner and the lead agency for the delivery of the Look North report and action plan. The organization supports northern economic development by providing a reliable source of capital for business development.
“Expanded lending capacity through the business loan program provides CEDF a critical tool for the execution of the Look North Initiative,” said Chris Thevenot, CEO, Communities Economic Development Fund. “Developmental lending through CEDF over its 50-year history has provided tremendous value to Manitobans by creating jobs, supporting entrepreneurs, and developing industries in some of the most remote areas in Manitoba.”
CEDF activities focus on the key pillars identified in the Look North report and action plan including:
– northern mineral and resource potential;
– Indigenous engagement and partnerships;
– strategic infrastructure;
– housing challenges and opportunities;
– enterprise eco-system; and
– workforce development.
For more information about CEDF and or to apply to the business loan program, visit http://cedf.mb.ca/.
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For more information:
– Public information, contact Manitoba Government Inquiry: 1-866-626-4862 or 204-945-3744.
– Media requests for ministerial comment, contact Communications and Stakeholder Relations: 204-451-7109.