Federal Reserve kicks in $5.5 million to help BC mitigate economic impact of disaster – Kelowna Capital News

Small businesses and nonprofits in British Columbia have been handed new funding to help them plan and prepare for the economic impacts of climate change.

Hundreds of representatives of Community Futures British Columbia (CFBC) gathered today in Revelstoke to announce the Pacific Economic Development Authority of Canada (PacifiCan) for $5.5 million for disaster recovery and economic coordination in areas affected by floods and wildfires I heard you announced more new funding.

“With the PacifiCan funding announced today, Community Futures British Columbia will provide businesses with the resources they need to recover from recent disasters, build resilience and prepare to meet the challenges of climate change well into the future. We can equip ourselves with the tools,” said Minister Harjit S. Sajjan. Minister for International Development in charge of Canada’s Pacific Economic Development Authority.

The funds are aimed at CFBC’s goals of supporting disaster recovery in rural and remote communities and helping small communities adapt to a competitive global economy.

The money can be used in several different ways depending on the community that receives it.

According to media releases, the funds can be used to enable small businesses and communities to access program ambassadors who can provide expertise on disaster planning. It also helps restore operations, mitigate the impact of future disasters, and provide the skills and strategies to compete effectively in global markets. It is expected to support an estimated 900 businesses and sustain 4,500 jobs.

Recipients also have access to online workshops, customized training for professional companies, and peer mentoring. All of this is aimed at making local economies more prepared to deal with competitive global markets while protecting against the growing impacts of climate change.

Communities eligible to receive a portion of the funding are Nicola Valley, Sun Country, South Fraser, North Fraser, Okanagan Similkameen, Thompson Country, Central Interior First Nations, Caribou Chilcotin, North Caribou, Fraser Fort George, Peace Liard and Stuart. Nechako, Nadina, 16/37, Pacific Northwest, and Haida Gwaii.

The new funding is in addition to the Government of Canada’s first National Adaptation Strategy, which aims to protect Canadian communities from the increasing impacts of change, including an increase in natural disasters such as floods and fires.

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Federal Reserve kicks in $5.5 million to help BC mitigate economic impact of disaster – Kelowna Capital News

Source link Federal Reserve kicks in $5.5 million to help BC mitigate economic impact of disaster – Kelowna Capital News

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