Announcement

Federal Budget a Step in the Right Direction on Social Innovation and Social Finance

April 20, 2021

BUDGET 2021: A RECOVERY PLAN FOR JOBS, GROWTH, AND RESILIENCEYesterday’s federal budget contained two financial commitments for advancing the federal Social Innovation and Social Finance Strategy, which provide a foundation for moving forward on this file.

The committed to:

  • Renew the Investment Readiness Program with an investment of $50 million over two years.  (Advocacy efforts had asked for a permanent program at $100 million per year.)
  • Launch already-planned disbursements of the $755 million Social Finance Fund and deploy up to $220 million over its first two years, starting this year.

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