$755-million investment will launch Canada’s first Social Finance Fund
Mississauga, Ontario - Canada’s economy is strong and growing, with more jobs and opportunities for the middle class and people working hard to join it. There are more good, well-paying jobs for Canadians, wages are growing, consumer confidence is strong and business profits are up—good news for Canadians and the communities they call home.
Minister Navdeep Bains was in Mississauga, Ontario, to highlight the Fall Economic Statement 2018, which updates Canadians on results already delivered by the Government’s investments and lays out the next steps in the Government’s plan to grow the economy by investing in middle-class jobs.
In the Fall Economic Statement 2018, the Government of Canada proposes to support innovative solutions to some of Canada’s big challenges through a Social Finance Fund that will give charitable, non-profit and social-purpose organizations access to new financing and connect them with non-government investors. The Social Finance Fund is expected to help create thousands of jobs, foster economic growth and help build a more equal and fair Canada.
The new Social Finance Fund is a significant first step toward ensuring community organizations are provided with new tools and funds they need to solve the big challenges they are facing, such as the opioid crisis, homelessness and long-term unemployment.
Source : Government of Canada