Canada Allocates $130 Million for Forest Sector Transformation Projects
The Canadian government has announced an investment of $130 million to fund 56 projects aimed at transforming the forest sector. This initiative focuses on low-carbon technologies, enhanced manufacturing capabilities, and Indigenous participation, underscoring a significant shift toward sustainability in the industry.
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Canada has committed $130 million for 56 forest-sector projects, enhancing the Business Development Bank of Canada's loan programs. Among the notable initiatives are a $37 million Fibre Recovery project in British Columbia and funding for automation and digital processes at FPInnovations.
Additional support includes $400 million to Regional Development Agencies for regional diversification and tariff response initiatives. The funding also addresses Indigenous-led projects and aims to bolster market access for Canadian wood products. The upcoming Canadian Council of Forest Ministers meeting will discuss these developments, potentially shaping future strategies for the forest sector's sustainability and economic resilience.
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