News Release

From the Prime Minister's Web Site (http://www.pm.gc.ca/)

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PRIME MINISTER ANNOUNCES FUNDING FOR THE NORTHWEST TERRITORIES UNDER NEW NATIONAL COMMUNITY DEVELOPMENT TRUST

March 10, 2008
Yellowknife, NWT

Prime Minister Stephen Harper, joined by Government Leader of the Northwest Territories Floyd K. Roland, today announced the Government of Canada will provide the NWT with $4.2 million as part of the new national Community Development Trust.

The Government recently unveiled the program to help provinces and territories assist communities and workers suffering economic hardship caused by the current volatility in global financial and commodities markets.

"I am pleased to announce that the Government of the Northwest Territories has agreed to be a partner in the Community Development Trust," said Prime Minister Harper. "This major new national initiative will support provincial and territorial efforts to help communities and workers buffeted by international economic turbulence that is beyond their control."

The Government of the Northwest Territories has identified several funding priorities in keeping with the aims of the Community Development Trust, including:

Job training and other educational investments that will allow NWT residents to take advantage of employment opportunities;

Support for communities dependant on the tourism sector; and

Support for communities dependant on the cultural sector of the economy, including the arts, and arts and crafts production.

"NWT residents should be poised and able to take full advantage of tremendous opportunities for development in our territory," said Government Leader Roland. "These funds will help us develop an economy that is balanced, diversified and sustainable, one that can provide jobs and opportunities for residents across the NWT."

The Community Development Trust will be funded with $1 billion from the projected 2007-08 budgetary surplus. A base amount of $10 million will be allocated to each participating province and $3 million to each participating territory. The balance of the funding will be allocated on a per capita basis. The Trust will have a three-year lifespan. The Government of the Northwest Territories has agreed to respect Canada's obligations under the North American Free Trade Agreement, the Softwood Lumber Agreement, and the World Trade Organization in administering its portion of the Trust funding.

"In last fall's throne speech, we responded to what we heard from Canadians in all regions of the country and promised more action to stand up for workers and communities in traditional industries," said the Prime Minister. "Working together, Ottawa and all the provinces and territories can turn the economic challenges we face today into economic opportunities for all Canadians tomorrow."

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The Prime Minister's Office - Communications
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