September 24, 2001

THOMPSON, Man.--Aboriginal and Northern Affairs Minister Eric Robinson was on hand today to congratulate the staff and board of the Communities Economic Development Fund on the celebration of its 30^th anniversary.

Created in 1971, the fund has played an integral role in the development of Northern Manitoba, providing an essential source of capital to developing and regional industries.

From its origins as a business lender in 1971, the fund has grown to incorporate other programs, assuming control of the Fisherman's Loan Program (also 30 years old) from the Manitoba Agricultural Credit Corporation in 1992 and developing an innovative approach through the Micro-Enterprise Development TEAM program in 2001.

The following examples demonstrate the fund’s impact on the region:

• Since its inception, the Business Loan Program has made over $70 million in loans to over 1,100 businesses. Its current clients generate over $41 million in annual revenues and employ 511 staff.
• The Fisheries Loan Program advances over $3.5 million in loans annually to a client base of over 1,250 commercial fishers throughout the province. Last year the program approved 829 loans totalling $4.2 million. During the year, 1,263 fishing clients produced revenues exceeding $19.6 million.
• TEAM has developed a client base in 15 communities; has over 60 micro-enterprise clients; and is currently expanding to a further 15 communities.

The fund unveiled its 30^th anniversary logo at its board meeting in Thompson and welcomed Bob Veito of The Pas to the board of directors. Veito is a long-time northern resident and, as a small business owner, brings a wealth of experience to the fund’s business services.

Other board members are:

Harold Westdal (Chair) Winnipeg

Linda Ballantyne Grand Rapids

Darlene Beck Cross Lake

Bill Cordell Pikwitonei

Gavin Lawrie Churchill

John McKay Gillam

Chief J.R. Yellowback Thompson

Activities scheduled during the anniversary year include open house board meetings and recognition of past staff members and clients.

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