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Canadian bank headquarters stand on Bay Street in Toronto. (Brent Lewi/Bloomber)
Canadian bank headquarters stand on Bay Street in Toronto. (Brent Lewi/Bloomber)

Green light to be given to $500-million growth fund backed by big banks Add to ...

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Canada’s largest financial institutions are set to unveil a new $500-million-plus fund on Thursday to help finance growing Canadian businesses and spur economic growth.

The experiment, known as the Business Growth Fund and egged on by the federal government and Bank of Canada Governor Stephen Poloz over months of discussions, is now a reality. But precisely when the funds will start flowing remains to be determined, sources say.

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