Farm Credit Canada lending capacity increases by $5B: Lending will help to alleviate industry’s financial pressure

Farm Credit Canada (FCC) has received an enhancement to its capital base that will allow for an additional $5 billion in lending capacity, Marie-Claude Bibeau, minister of Agriculture and Agri-Food Canada announced on March 23, 2020.

Minister Bibeau’s announcement followed Prime Minister Justin Trudeau’s announcement earlier that day outlining more details on the Government of Canada’s plan to support the economy during the COVID-19 pandemic. In that announcement, the government made a solid commitment to the agriculture and food industry to ensure producers, agribusinesses, and food processors continue to have access to necessary capital at this challenging time.