Saskatoon, Saskatchewan – Agriculture and Agri-Food Canada
Agriculture Minister Gerry Ritz today highlighted major enhancements to the Advance Payments Program (APP) designed to improve and streamline administration, provide greater flexibility and more repayment options, and ease access to the program for producers.
On February 27, 2015, the Government announced the coming into force of the Agricultural Growth Act which makes improvements to the Advance Payments Program (APP). The Act modernizes and strengthens federal agriculture legislation, supports innovation in the Canadian agriculture industry and enhances global market opportunities.
Many of the changes implemented under the Act will take effect on April 1, 2015, for the 2015 Program Year, in time to help producers plan for the new production year. The new Act also allows for further improvements to be implemented once amendments to the related regulations are completed.
Quick facts
- The APP is a federal loan guarantee program that helps agricultural producers benefit from the best market conditions by improving their cash flow throughout the year.
- Starting April 1, producers can now request advances for all their commodities through one application with a single administrator, significantly reducing their paper burden.
- In addition, there is no longer a requirement for a farmer to be principally occupied in farming in order to utilize APP.
- Across Canada, more than $1.9 billion in advances has been provided to close to 21,000 producers for the 2014 program year to date.
Source: AAFC