New measures to support farmers and agri-food businesses announced
Source: Saskatoon newsroom, producer.com, March 24, 2020
Among other things, the Stay of Default will provide farmers with the flexibility needed to manage their cash flow when facing lower prices or reduced marketing opportunities.
Prime Minister, Justin Trudeau, today announced important new measures to support farmers and agri-food businesses in Canada facing financial hardship due to the impacts of the COVID-19 pandemic.
Farm Credit Canada will receive support from the Government of Canada that will allow for an additional $5 billion in lending capacity to producers, agribusinesses, and food processors. This will offer increased flexibility to farmers who face cash flow issues and to processors who are impacted by lost sales, helping them remain financially strong during this difficult time.
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