The Port of Montreal, Solidarity Fund QFL team up to attract businesses to the port’s logistics chain: C$100 million for new projects
The Montreal Port Authority (MPA) and the Solidarity Fund QFL (the Fund) announced July 18 they have signed an agreement to create the Solidarity Fund QFL-Port of Montreal Logistics Financing Partnership, making C$100 million available to companies with a development project connected with the port’s logistics chain in Greater Montreal. The amount will be made available to companies through the Fund in the form of share capital or an unsecured loan.
Companies that want to submit a project to benefit from this financing are invited to contact the Fund or the MPA. The Fund will then assess the application files on the basis of its investment criteria. The Fund is solely responsible for agreements with developers. A committee, composed of members appointed by the MPA and the Fund, is being established to promote this initiative, chaired by Sylvie Vachon, President and CEO of the MPA.
“The Port of Montreal is proud to partner with the Solidarity Fund QFL, a Quebec economic institution whose socially responsible investment values completely match our vision of economic development, to support businesses based here and elsewhere that want to expand or locate to our area. Together, we are taking action to foster business development and economic growth while benefiting the Port of Montreal’s logistics chain,” said Vachon.
“The Port of Montreal already plays a vital role in our economy. This new partnership between the Fund and the MPA will encourage investment in logistics that will improve freight transport efficiency in Greater Montreal and benefit Quebec’s small, medium and large exporters. In this way, the port will help increase exports from Quebec, a goal the Fund shares with the Quebec government’s Maritime Strategy,” said Gaétan Morin, President and CEO of the Fund.