Canadian seafood industry given $62.5m aid package
Canada’s fish farmers have welcomed a $62.5 million package of financial support from the government to help seafood businesses continue operating during the Covid-19 pandemic.
Fisheries and oceans minister Bernadette Jordan announced the Canadian Seafood Stabilization Fund on Saturday. It will assist the fish and seafood processing sector.
In a joint statement, the Canadian Aquaculture Industry Alliance (CAIA) and the Fisheries Council of Canada (FCC) thanked Prime Minister Justin Trudeau and Jordan for their commitment to the sector.
Added storage capacity
“Together, our industry continues to work to provide safe, healthy and sustainable farm-raised and wild-sourced food products,” said Tim Kennedy, president and chief executive of the CAIA.
“This support will help to ensure our industry remains operational to support Canadians at this critical time and as we begin to recover from this crisis.”
The fund will help businesses:
- access short-term financing to pay for maintenance and inventory costs;
- add storage capacity for unsold product;
- comply with new health and safety measures for workers;
- support new manufacturing/automated technologies to improve productivity and quality of finished seafood products; and,
- adapt products to respond to changing requirements and new market demands.
‘Investing directly’
“The women and men in our fish and seafood sector have been feeding this country for generations,” said Jordan in a government press release.
“Through the new Canadian Seafood Stabilization Fund, our government is investing directly into this sector, ensuring the industry has the support it needs to adapt to current realities brought on by Covid-19. Bolstering our processing sector is vital to supporting fish harvesters and feeding Canadians.”
The fund will be delivered through the Atlantic Canada Opportunities Agency, Canada Economic Development for Quebec Regions, and Western Economic Diversification Canada. Further details on how and when processors can apply for assistance will be confirmed later.
