The Canadian Government announced that $755 million will be invested to establish the Social Financial Fund. The multi-million dollar investment will take place over the course of 10 years and plans to create thousands of jobs and foster economic growth.
This fund will give charitable, non-profit and social-purpose organizations access to new financing and connect them with non-government investors. Homelessness, long-term unemployment and the opioid crisis are challenges the fund hopes to solve by providing new tools and capital to community organizations.
The Honourable Jean-Yvos Duclos, Minister of Families, Children and Social Development, said “It’s about empowering people but also empowering organizations and communities whose primary objectives are not exclusively defined by profits but by the notion that everybody everywhere deserves dignity.”