MIL-OSI Translation: Government of Canada announces creation of fund that will make a real difference for the middle class

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MIL OSI Translation. Canadian French to English

Source: Government of Canada – MIL OSI in French 2

$ 755 million investment to launch Canada’s first social finance fund

November 28, 2018 Vancouver, British Columbia Employment and Social Development Canada

The Canadian economy is healthy and thriving and offers more jobs and opportunities for the middle class and those working hard to join it. Canadians have access to more high-quality, high-paying jobs, higher wages, higher consumer confidence, and increased corporate profits: this is good news for Canadians and communities where they live.

Today, the Minister of Families, Children and Social Development, the Honorable Jean-Yves Duclos, was in Vancouver to present the Fall 2018 Economic Statement, which presents Canadians with a report on the results obtained. thanks to the government’s investments and outlines the next steps in the government’s plan to grow the economy by investing in jobs for middle-class workers.

In the Fall 2018 Economic Statement, the Government of Canada proposes to fund innovative solutions to address some of Canada’s great challenges through a social finance fund. This fund will allow charities, non-profits and social organizations to access a new source of funding and connect them with non-government investors. The social finance fund is expected to foster economic growth, create thousands of jobs, and build a more equal and just Canada.

The new Social Finance Fund represents a significant step forward for community organizations, social enterprises and non-profit organizations. They will benefit from new tools and financial levers to address the many challenges they face, including the opioid crisis, homelessness and long-term unemployment.

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“Our government recognizes that new approaches are needed to address the challenges that make it difficult for some Canadians to succeed and reach their full potential. We must ensure that charities, non-profits and social enterprises have access to the capital they need to make a real difference in the daily lives of Canadians. There is no better time than now to consider innovative approaches that will help us meet our commitment to build a more equal, more generous and more sustainable Canada. This is exactly what we are doing today by launching this new social finance fund. “

– The Honorable Jean-Yves Duclos, Minister of Families, Children and Social Development

Quick facts

The government will invest $ 755 million over the next 10 years to establish the Social Finance Fund.

The government plans to invest an additional $ 50 million over two years to improve the ability of social organizations to successfully participate in the social finance market.

The proposed social finance fund could generate up to $ 2 billion in economic spin-offs and help create up to 100,000 jobs over the next decade.

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Contacts

For media inquiries, please contact:

Valérie GlazerPress SecretaryOffice of the Honorable Jean-Yves Duclos, MP, MPMinister of Families, Children and Social Development819-654-5546

Office of Media RelationsEmployment and Social Development Canada819-994-5559media@hrsdc-rhdcc.gc.caFollow us on Twitter

EDITOR’S NOTE: This article is a translation. Apologies should the grammar and / or sentence structure not be perfect.

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