Federal and Provincial Governments announce record investment through new Sustainable Canadian Agricultural Partnership
Today, the Honourable Lawrence MacAulay, federal Minister of Agriculture and Agri-Food, and the Honourable Bloyce Thompson, Minister of Agriculture for Prince Edward Island, announced an investment of over $46 million into Prince Edward Island’s local agriculture industry under the new Sustainable Canadian Agricultural Partnership (Sustainable CAP).
Sustainable CAP is a new $3.5 billion, five-year agreement, from April 1, 2023 until March 31, 2028, between federal, provincial and territorial governments to strengthen the agriculture, agri‐food and agri‐based products sector.
To further support Prince Edward Island’s agriculture industry, this cost-shared investment under Sustainable CAP represents a 25 per cent increase in program funding from the previous agreement.
Through federal and provincial investment, Sustainable CAP will fund over a dozen program streams that aim to support the competitiveness, innovation and resiliency of the agriculture industry. Some examples of types of projects this could include are programs that encourage the development and adoption of land management practices for establishing perennial cover crops that help build resiliency in soils and reduce erosion as well as funding for the Prince Edward Island Livestock Strategy that supports the development of the livestock industry and its sectors.
Additionally, Sustainable CAP will continue to help producers manage risks that threaten the sustainability of their farm and that are beyond their capacity to manage through a suite of Business Risk Management Programs, including AgriStability, AgriInsurance, AgriInvest and AgriRecovery.
“The Sustainable Canadian Agricultural Partnership is an historic agreement contributing to the continued growth and sustainability of the agriculture sector on Prince Edward Island. Island producers and processors are vital to our economy and communities across the province. This investment with the Government of Prince Edward Island will help Island producers and processors seize opportunities to innovate, expand and strengthen the resiliency and sustainability of their industry and Island communities.”
- The Honourable Lawrence MacAulay, Minister of Agriculture and Agri-Food
“The local agriculture industry is our Island’s pride and joy, as well as our economic backbone. It fosters community well-being and growth, and contributes billions of dollars towards the local economy. We are proud of the investments made here today to further support producers in their commitment to driving key areas like climate resiliency, economic innovation and community growth, while also ensuring that top quality food products grown on PEI continue to be enjoyed around the world.”
- The Honourable Bloyce Thompson, PEI’s Deputy Premier and Minister of Agriculture
PEI Department of Agriculture
Director of Communications
Office of the Minister of Agriculture and Agri-Food