Community Development Trust Passed

By 250 News

While all provinces  have yet to sign on for the funding, the legislation  designed to provide  $1 billion dollars  for a Community Development Trust has been  passed unanimously  in Ottawa.

The fund now waits for the approval of the Senate.

Once approved, the Community Development Trust will  provide fundig for job training  in sectors  which  face labour shortages, it will also  provide community transition plans to  foster economic development, creat enew jobs and infrastructure development  to stimulate  economic diversification.

The fund was  developed in the wake of  job losses  in communities which are  reliant on single resources.  It is expected the funding will assist communities like Mackenzie  which  are  facing  significant losses  because of the downturn in the forest sector.

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