Finance P.E.I., a corporation that will over see provincial lending, has been formed.
It encompasses the former P.E.I. Lending Agency and Lending Services and the
properties division of Innovation P.E.I.
The corporation falls in line with commitments outlined in the 2012 throne speech, said Innovation Minister Allen Roach in a news release issued this morning.
“As stated in the 2012 Speech from the Throne, the Government of Prince Edward Island is committed to stimulating activity within the private sector in order to continue accelerating our economic growth," Roach said. "By streamlining our financial supports we are better serving growing businesses who are creating jobs and wealth for Islanders."
Finance PEI is a corporation designed to support economic development in Prince Edward Island by providing loans and credit assistance to Island businesses. The creation of Finance P.E.I. has consolidated commercial lending and strategic real property development into one entity. As a crown corporation of the Ministry of Innovation and Advanced Learning, Finance P.E.I. is now the lead financing and
strategic infrastructure group for the provincial government.
Finance PEI will manage two major government portfolios dedicated to economic development: strategic initiatives and properties; and financing.
The strategic initiatives and properties division is responsible for all real estate held by Finance P.E.I. and its subsidiary companies including properties, land, business
parks and corporate offices.
Under the financing division, Finance P.E.I. will provide counseling services and financing to new and existing businesses that support economic development through job and wealth creation.
For more information about Finance P.E.I. and its role, visit www.financepei.ca .