The Canadian government has shown the other G7 countries how to make the most of the public funding to ensure global development. The new budget announced by the Finance Minister of Canada Bill Morneau is a boon for everyone residing in the developing countries.
The FM has announced in his 3rd budget that 1.5 billion Canadian dollars will be offered for the next five years for the international assistance. After this, the Liberal government has plans to invest 493 million CAD every year to boost the global development.
Bill said that the Canadian government will go out of the way to help defenseless people all over the world. They will offer the largest international assistance of these vulnerable people. This is the first time in a decade that international business will be getting huge financial support from Canada.
The best part of the budget is an allocation of 2 billion Canadian dollars for assistance aligned with the Feminist International Assistance Policy of Canada. This will be offered over a period of five years.
The federal government of Canada will be pumping in the CAD 1.5 billion for the higher levels of investment in private sector internationally. This will be offered to businesses in the developing countries.