Canada unveils C$1 billion dollar loan program to tariff-impacted industries

Kitco Media
By Reuters
Published:
Updated:
Reuters
Canada unveils C$1 billion dollar loan program to tariff-impacted industries teaser image

OTTAWA, May 4 (Reuters) - The government of Canada ​announced on Monday a ‌C$1 billion ($734.65 million) loan program which ​will be extended ​to industries impacted by ⁠U.S. tariffs.

"The program ​will be available ​to industries that manufacture and export products containing steel, ​aluminum or ​copper," a government statement said, ‌adding ⁠the loan will be disbursed through Development Bank of ​Canada.

Additionally, the ​government ⁠also announced C$500 million funding ​to regional ​development ⁠agencies to support all sectors impacted ⁠by ​tariffs.

($1 = 1.3612 ​Canadian dollars)

Reporting by Promit Mukherjee; ​Editing by Caroline Stauffer

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