COVID-19 Resources

Finance Montreal welcomes the concrete actions implemented by the finance community to support individuals and companies during these difficult times. Covid-19 will have an impact on us all and it is essential to take necessary action to help those in need and to insure Quebec’s economic recovery post-COVID. Below we list the various initiatives put forward by our institutional members, the business community and our different levels of government.

Financial Institutions Respond to COVID-19

The banks and cooperatives have announced relief measures for individuals and businesses:

https://blogues.desjardins.com/press_release/2020/03/covid-19-desjardins-announces-relief-measures-for-personal-and-business-members-and-clients.php

https://www.nbc.ca/en/about-us/news/news-room/press-releases/2020/20200317-covid-19-la-bnc-offrira-des-mesures-de-soutien-aux-clients.html

https://cba.ca/canada-six-biggest-banks-take-decisive-action-to-help-customers-impacted-by-covid-19?l=en-us

https://www.cibc.com/en/business/covid-19.html

https://www.bdc.ca/en/pages/special-support.aspx?special-initiative=covid19

https://www.cdpq.com/en/form-covid-19

Development capital funds offer relief measures to their partner companies:

https://www.fondsftq.com/en/salle-de-presse/liste-communiques-de-presse/communique.aspx?nom=20200319-mesures-financieres-covid19

https://www.fondaction.com/nouvelles/fondaction-annonce-un-repit-de-trois-mois-pour-les-entreprises-de-son-portefeuille/

Insurers are ready to help:

https://www.manulife.ca/personal/support/update-on-covid-19/ensuring-you-are-supported-and-informed.html

https://www.intact.ca/en/covid19.html

https://www.sunlife.ca/ca/COVID-19?vgnLocale=en_CA

https://www.lacapitale.com/en/coronavirus

https://ia.ca/covid-19-updates

The Ecosystem is Coming Together

The École des entrepreneurs du Québec offers online discussion clinics:

https://eequebec.com/cliniques-de-discussion-en-ligne/

The Chamber of Commerce of Metropolitan Montreal is creating a group of experts ready to help:

https://www.ccmm.ca/en/advocacy/covid-19/expert-squad/

The Mouvement des accélérateurs d’innovation du Québec launched a virtual support office for startups:

https://mainqc.com/eng/

The Fédération des chambres de commerce du Québec launched the campaign J’achète bleu to support the local economy:

https://www1.fccq.ca/la-fccq-lance-la-campagne-jachete-bleu-pour-soutenir-leconomie-dici/

Techno Montreal invites Quebec companies and inventors to propose technological innovations to help counter COVID-19:

https://technomontreal.com/programmes/le-mur-des-innovations-technologiques-quebecoises/

CGI is involved in a clinical study on COVID-19 by developing a technological platform to collect patient data:

https://www.lapresse.ca/covid-19/202003/22/01-5265931-des-chercheurs-quebecois-testeront-un-medicament-contre-les-complications-graves.php

In partnership with Canada Life and IGM Financial, Power Corporation of Canada contributes $1M to support efforts in fighting the crisis:

https://www.newswire.ca/fr/news-releases/canada-life-igm-financial-amp-power-corporation-of-canada-contribute-1-million-to-address-covid-19-community-challenges-859396686.html

The AMF is softening its standards for the Québec financial sector so that it can help the economy: https://lautorite.qc.ca/grand-public/salle-de-presse/actualites/fiche-dactualite/lautorite-annonce-des-mesures-pour-soutenir-le-systeme-financier-quebecois/

OSFI determines capital treatment of programs to support COVID-19 efforts
https://www.osfi-bsif.gc.ca/eng/osfi-bsif/med/Pages/nr20200330.aspx

Government measures

The City of Montreal announced emergency financial support for businesses:

https://montreal.ca/en/articles/covid-19-support-measures-montreal-businesses

Through Investissement Québec the Government of Quebec has implemented the Concerted Temporary Action Program for Businesses (PACTE):

https://www.economie.gouv.qc.ca/ministere/actualites/actualites/?no_cache=1&tx_ttnews%5Btt_news%5D=24497&cHash=547f01ef12a92f6df43fbe005a393daf

https://www.investquebec.com/quebec/en/financial-products/all-our-solutions/Concerted-temporary-action-program-for-businesses.html

Revenu Québec offers flexibility measures for citizens and businesses:

http://www.fil-information.gouv.qc.ca/Pages/Article.aspx?aiguillage=ajd&type=1&idArticle=2803176195

The Government of Quebec has also launched the temporary aid for workers program to provide financial assistance to unemployed workers:

https://www.quebec.ca/en/family-and-support-for-individuals/financial-assistance/temporary-aid-for-workers-program/

The Government of Canada announced its economic intervention plan:

https://www.canada.ca/en/department-finance/news/2020/03/canadas-covid-19-economic-response-plan-support-for-canadians-and-businesses.html