Mélanie Joly, federal minister for economic development and official languages, announced October 2 continued funding for the Regional Relief and Recovery Fund (RRRF), through the Federal Economic Development Agency for Southern Ontario (FedDev Ontario). The RRRF began in May this year during the early stages of the pandemic and has helped more than 12,000 small- and medium-sized businesses (SMEs) maintain their existing staff, cover operation costs, and continue to support local and regional economies.
“Small- and medium-sized businesses have been hit hard by COVID-19,” stated Joly. “The Regional Relief and Recovery Fund is here to help them.”
FedDev Ontario will get another $184 million to dispense through the RRRF to assist businesses in Southern and Eastern Ontario. Part of that funding aid will come through regional Community Futures Development Corporations.