Over the past year, some $234.3 million was paid in loan guarantees to agricultural and forestry businesses in the Chaudière-Appalaches region by Financière agricole du Québec.
This is what emerges from the 2022-2023 report on the organization’s activities in terms of financing, insurance and income protection, made public this week. This information comes from the annual report for the financial year ending March 31.
Of the total loans, $168.9 million went to dairy and maple syrup companies and $1.6 million to forestry producers.
The FAQ also provided direct financial assistance adapted to the reality of emerging young people by supporting 84 structuring projects, for a total sum of $1.9 million.
In addition, some $105 million was given to producers as part of insurance and income protection programs covering most of the risks faced by agricultural businesses. The majority of this amount, $73.7 million, represents agricultural income stabilization insurance (ASRA) compensation, which was mainly given to pork companies.
« Our organization has demonstrated its commitment to the agricultural sector through the vagaries of the weather and the uncertain economic context. Our support and adaptation of our programs are at the heart of our priorities, in order to meet the constantly evolving needs of producers. », declared the president and CEO of Financière agricole du Québec, Ernest Desrosiers, via press release.
2023-10-26 19:08:47
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