Mélanie Joly

OTTAWA — Federal Industry Minister Mélanie Joly said financial relief is coming soon for Canada’s tariff-struck softwood lumber sector. The minister said the government will provide funding through banks, backstopped by the Business Development Bank of Canada, in the “coming days.” “That’s for supporting, right now, our businesses to make sure that they stay afloat,” Joly said. …In August, Prime Minister Mark Carney announced a $1.25 billion aid package to support the softwood lumber sector. Joly said the funding will go toward ensuring businesses stay afloat while dealing with “unjustifiable” tariffs, adding the government will also offer support for operations and capital expenditures. The minister said the government funding will be provided based on individual companies’ needs. …”BDC emphasized the program is not intended as a cure-all for the sector’s considerable challenges but rather act as a complementary tool… to help these businesses continue to operate and better manage through an ever-evolving situation”.