EDMONTON – The Alberta government and the Business Development Bank of Canada are working together to grow small and medium-sized businesses.
The two have signed a memorandum of understanding to boost venture capital funding through the bank.
The agreement was signed by Economic Development Minister Deron Bilous and bank president Michael Denham.
The province is undertaking a number of initiatives to help grow and diversify the economy.
It is already making $1.5 billion in capital available through ATB Financial for loans to small and medium-sized businesses.
Continuing low oil prices have led to thousands of job losses in Alberta.