The FNMI Program is managed by Co-operatives and Mutuals Canada (CMC) and funded by the Cooperative Development Foundation of Canada (CDF) to help Aboriginal communities launch co-operatives, create jobs and stimulate economic activity, had a record response this year.
The number of proposals received by CMC is up more than 200% with a total of 20 proposals. The total dollar value of these financing requests amount to $783,892!
“This response is by far the best we have seen with the program. In addition, we have received the strongest proposals ever” commented Michael Beland, Manager of Cooperative Development at CMC.
In December 2014 CDF decided to renew the program for five more years beginning in 2016 with a new formula. New stakeholders in the sector have indicated their interest in participating and supporting the program in the future.