The Co-operators announced that they will increase their commitment to the Canadian Co-operative Investment Fund (CCIF) to $10 million. The fund, to be launched in the coming months, will support the development and expansion of Canadian co-operatives with loans and other sources of funding from the co-operative sector.
The Fund will launch once its target of $25 million is reached. “Access to capital has long been recognized as a challenge facing co-operatives and we are pleased to support this solution, designed by the co-operative sector for the co-operative sector”, said Kathy Bardswick, The President of The Co-operators.
CMC is in continuous discussion with the federal government to provide invest or start up capital for Fund. CMC continues to work with all investors on the launch of the Fund with the goal of completing that phase before the end of 2015.