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Canada invests in forestry sector hard hit by COVID-19

Natural Resources Canada is investing in the forestry sector’s COVID-19 economic recovery by launching calls for proposals for programs that will support the sector. This call comes as Canada’s forestry sector has been one of the hardest hit by the ongoing COVID-19 pandemic. Source: Timberbiz

The programs to be supported are the Investments in Forest Industry Transformation (IFIT) program and the Indigenous Forestry Initiative (IFI) program.

For these programs, the Government of Canada plans to invest almost CAN$83 million into IFIT to help strengthen the forestry sector by bridging the gap between new product development and commercialization.

As well as an investment of CAN$13 million into IFI to support Indigenous peoples participation in forestry opportunities including, businesses, careers and governance.

“Canada’s resource industries are among the economic sectors hit hardest by the pandemic,” Canada’s Minister of Natural Resources Seamus O’Regan said.

“We are taking action to help Canada’s forest sector keep people working and come out of this difficult period stronger than before,” he said.

Mr O’Regan emphasized that the federal government is committed to the country’s natural resource sectors, and that Canada can rebound economically stronger from COVID-19 with its investments in forestry.