Natural Resources Canada investing in forestry sector’s COVID-19 economic recovery
In an announcement by Seamus O’Regan, Canada’s Minister of Natural Resources on July 2, Natural Resources Canada is investing in the forestry sector’s COVID-19 economic recovery by launching calls for proposals for programs that will support Canada’s forestry sector. This call comes as Canada’s forestry sector has been one of the hardest hit by the ongoing COVID-19 pandemic.
The programs to be supported are the Investments in Forest Industry Transformation (IFIT) program and the Indigenous Forestry Initiative (IFI) program.
The Government of Canada plans to invest almost $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 $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. We are taking action to help Canada’s forest sector keep people working and come out of this difficult period stronger than before,” O’Regan said in a press release.
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.
The application process is now open and organizations are encouraged to apply on Natural Resources Canada’s website.