Mélanie Joly

Evan Solomon

Canadian ministers Mélanie Joly and Evan Solomon announced $1.5 billion to support several of Canada’s tariffed industries. This includes the creation of a new $1 billion Business Development Bank of Canada (BDC) program available to industries that manufacture and export products containing steel, aluminum or copper. …The BDC program will provide financing at favourable terms to enable businesses to address immediate pressures. This new program aligns with the government’s priority to provide rapid liquidity to viable businesses facing significant economic challenges. In addition, the government is providing an additional $500 million through the Regional Tariff Response Initiative (RTRI) to support tariff-impacted businesses in all sectors of our economy. This funding, delivered by Canada’s regional development agencies (RDA), will help ensure that Small and Medium-sized Enterprises (SMEs) have access to the financing they need to enable strategic pivots through investments in market diversification and enhanced productivity that strengthen their competitiveness.