The federal government rolled out the nearly $1-billion Regional Relief and Recovery Fund (RRRF) on Wednesday, hoping to help businesses who may have fallen through the cracks of the Canada Emergency Business Account and the wage subsidy.
Canada’s Minister of Economic Development and Official Languages announced that the RRRF is now accepting applications from businesses and communities.
Melanie Joly said the RRRF gives $962-million to help sectors such as manufacturing, technology, tourism and seasonal businesses. The rest of the money will be distributed to Community Future Development Corporations for businesses in rural areas. Covering every region of Canada, the six Regional Development Agencies (RDA) will be delivering this funding.
The funding is as follows:
- Western Economic Diversification Canada – $304.2 million
- Federal Economic Development Agency for Southern Ontario – $252.4 million
- Canada Economic Development for Quebec Regions – $211 million
- Atlantic Canada Opportunities Agency – $110 million
- Federal Economic Development Initiative for Northern Ontario – $49.5 million
- Canadian Northern Economic Development Agency – $34.3 million