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Feds earmark $96 million for Black community organizations

Click to play video: 'Canada launches $291M Black Entrepreneurship Loan Fund'
Canada launches $291M Black Entrepreneurship Loan Fund
Prime Minister Justin Trudeau announced on Monday the launch of the $291 million Black Entrepreneurship Loan Fund, which he said will allow Black entrepreneurs and business owners to access loans from $25,000 to $250,000. “With the right tools and support, these entrepreneurs will be able to create even more good jobs, and even more opportunities for people across the country,” Trudeau stated – May 31, 2021

Social Development Minister Ahmed Hussen says the federal government is allocating up to $96 million in funding for Black community organizations.

Speaking to reporters in Toronto today, Hussen says the new funding is the largest in history from the federal government to groups that serve Black Canadians.

He says the new money will include $82 million to fund about 1,300 social infrastructure projects to enhance workplaces and community spaces and $14 million to help organizations build grassroots capacity.

The money is part of a program the Liberals launched two years ago with $25 million in funding for capacity building and infrastructure projects by Black-led groups.

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Hussen says the government learned there was a need for more resources and decided to dedicate additional money to go out immediately.

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He says supporting organizations that serve Black Canadians is key to addressing racism and other issues facing these communities.

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