Investment Readiness Fund | Support for social innovation & social finance

From coast to coast, our communities face significant social,
economic and environmental challenges. These issues, these challenges,
often hinder economic growth, inclusion and the success of Canadians, especially those in vulnerable populations. At the moment,
in Canada, social purpose organizations employ about 2 million people and contribute
up to 8% to the gross domestic product. The $755 million
we will be investing through the fund announced in the fall
will generate additional investments, up to $2 billion to the gross domestic product, and create more than
100,000 jobs over the next decade. I think it’s very positive that we’re seeing
measures from the federal government to support social innovation. We are very excited to see the launch
of the part focused on capitalization, the creation of the new Social Finance Fund. We know there is a specific
social finance ecosystem in Quebec. Funding from
the Investment Readiness Program will help grow the social finance ecosystem
in regions across Canada and help to build the demand side
of the social finance marketplace. This is really innovative public policy. This is really, really good to see. And charities and non-profits are central
to the announcement, which is great. I would like to take
this opportunity to thank all of you working in social finance
for the incredible energy and considerable time you have invested
in supporting this first stage of the first Social Innovation and
Social Finance Strategy across the country. The Government of Canada is proud
to be working in partnership with you.

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