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On May 29, Minister for Families, Children, and Social Development Karina Gould launched a long-awaited $755 million Social Finance Fund. It has been a six-year journey since the first announcement of the fund as part of the Ottawa 2018 Fall Economic Statement.
“It was a tough process,” the Minister said at the launch event in Ottawa. “We have never done this before. We had to build something new and find a way government can work with non-profits, social innovators, and the financial sector. But, in the grand scheme, six years is not that long.”
The fund, a long-term program, will run until 2039. It includes conditionally repayable contributions to invest in so
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