IMPLEMENTATION LEVEL

Subnational

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

firm-specific

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 29 Jun 2012 | Removal date: open ended
Still in force

Loan guarantee

On June 29, 2012 the government of Quebec provided a Can.$58 million (U.S.$45 million) loan guarantee to the Jeffrey mine in Quebec's Eastern Townships. The mine's management expected this funding will create between 400 and 500 direct full-time jobs for a period of 20 years in the town of Asbestos, while 1,000 positions indirectly related to the mine will also be created. The mine will have to repay $1.5 million along with interest fees for a period of 15 years between 2015 to 2031. The first $7.5 million will go directly to a fund targeting economic diversification for Quebec's Eastern Townships region.

AFFECTED COUNTRIES

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