Canada's Social Finance Fund should pivot in four big ways, say sector leaders
Why It Matters
Local economies are devastated in the wake of COVID-19. Social purpose organizations are struggling. Already marginalized populations have been disproportionately impacted. The $755-million Social Finance Fund was announced years before any of this happened, but now it has the potential to support Canada’s much-needed recovery.
With rates of COVID-19 infections slowing down in Canada, communities are beginning to reopen. Over the coming months, conversations will increasingly turn from immediate crisis relief towards longer-term recovery efforts.
As Canada looks to pull itself out of a deep economic recession, thought to be the worst in a century, one of the recovery tools at the government’s disposal could be the highly-anticipated $755 million Social Finance Fund, which had been set to launch this year but could be delayed.
Though announced in the fall of 2018, long before COVID-19 hit, experts in the social impact sector believe that the fund could be repurposed to play a vital role in recovery. They say that by investing in organizations with solutions to systemic issues, like the care-home crisis or homelessness, growing the social finance ecosystem could help to bolster the so
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