Loan guarantee approved for Torngat Fish Producers

The Nunatsiavut Government has approved a loan guarantee of $1 million for the operating line of Torngat Fish Producers Cooperative Society Ltd. for the period of June 5 to December 31, 2015.

 The guarantee will enable the company to double the amount of product being purchased and processed during the 2015 fishing season.

“We have confidence that the operational plan being implemented by Torngat Fish Producers will prove successful. The purchase of new equipment in Nain and Makkovik will allow more effective and efficient processing, thus providing more meaningful employment for Beneficiaries of the Labrador Inuit Land Claims Agreement,” says Finance, Human Resources and Information Technology Minister Daniel Pottle.

The loan guarantee was approved by the Nunatsiavut Assembly on Tuesday.

 

Media Contact:

Bert Pomeroy

Director of Communications

(709) 896-8582