Member of Parliament for Tobique-Mactaquac, TJ Harvey on behalf of Agriculture and Agri-Food Minister Lawrence MacAulay announced today an investment of over $400,000 to support the Canadian Federation of Agriculture (CFA)'s efforts to introduce a new accounts receivable insurance tool.
CFA's two-year pilot project addresses a gap in the agriculture sector for individual transaction accounts receivable insurance. The insurance tool is designed to offer financial protection to farmers as they seek out new markets within Canada and abroad. The intent is to develop private sector delivered, accounts receivable insurance for up to twenty agricultural commodities in Saskatchewan and Manitoba, with longer-term plans of expanding credit insurance across Canada to provide more certainty and ensure higher profitability.
Source : Agriculture and Agri-Food Canada