Prime Minister Justin Trudeau’s long-promised action to tackle systemic racism is starting to take shape with the announcement Wednesday of a program that will deliver up to $221 million in public and private funding for Black-owned businesses and entrepreneurs.
Several financial institutions — including major firms like the Royal Bank of Canada, Bank of Montreal, Scotiabank, TD and CIBC — will also contribute up to $128 million to a new fund that will lend out sums ranging from $25,000 to $250,000 to Black-owned businesses and entrepreneurs.