Canada’s New Government Invests $30M Towards the Establishment of the Atlantic Salmon Endowment Fund
January 23, 2007
CHAMCOOK, N.B. – The Honourable Greg Thompson, Minister of Veterans Affairs and Minister Responsible for New Brunswick, on behalf of the Honourable Loyola Hearn, Minister of Fisheries and Oceans (DFO), today presented a $30-million cheque to the Atlantic Salmon Conservation Foundation (ASCF). The funding officially establishes the Atlantic Salmon Endowment Fund, which will help restore and conserve salmon populations in rivers and streams in the Atlantic provinces and Quebec.
“One of Minister Hearn’s first statements in the House was that Canada’s New Government would deliver on its commitment to create this Fund,” said Minister Thompson. “This is a government serious about the environment, and serious about our commitments. This presentation today is about both of these things.””But we couldn’t do it alone, and for that reason, I want to say how pleased I am that the Atlantic Salmon Conservation Foundation has come forward to administer the Fund,” added Minister Thompson.
The ASCF is an arm’s-length organization that consists of six members – one from each of the Atlantic provinces, one from Quebec, and one First Nations representative.
The ASCF will invest the $30-million grant. The income earned on the investment will then be used to fund projects that help watershed and community organizations working on a range of wild Atlantic salmon habitat, enhancement, monitoring and conservation initiatives.
In order to ensure accountability, the funding agreement between DFO and the ASCF has been reviewed by Treasury Board and meets the requirements of arm’s-length endowment funds.
FOR MORE INFORMATION:
Fisheries and Oceans Canada
Special Assistant – Communications
Office of the Minister of Veterans Affairs and Regional Minister for New Brunswick