AgriRisk Initiatives Program available under the Canadian Agricultural Partnership
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OTTAWA — A renewed Agri-Risk Initiatives Program announced last week by Agriculture Minister Lawrence MacAulay, is expected to encourage partnerships for exploring and developing new risk management products and services.
MacAulay says the program will help protect farmers against business risks and responds to what the government heard from the external advisory panel on business risk management.
The Ag minister detailed how funding for the $55-million program is available under two components, research and development and administrative capacity building:
The Research and Development (R and D) component provides funding for research and development of potential new private sector or industry-led, tools to help address risks. Applications for R-and-D are now available, and will be accepted until September 28th, 2018.
The Administrative Capacity building component, which offers funding to build administrative capacity for the delivery of new risk management tools, is also now available and being accepted.
A new category under R and D, is Microgrants, which will provide up to $25,000 per year in funding for academic research proposals that explore the development of alternative risk management tools or, propose different ways to address issues with existing BRM programs
The government says priority will be given to proposals for industry-led projects to develop new and innovative business risk management tools.
According to Agriculture and Agri-Food Canada, the country’s agri-food system is worth $110 billion to Canada’s economy, with more than $64.6 billion in exports. Agriculture risk management helps stabilize farmers’ incomes, strengthens farm businesses, and encourages growth in the agricultural sector. Under the Canadian Agricultural Partnership, governments continue to support the development of new risk management tools that reflect the changing nature of the business.
