The Winnipeg Foundation

The Winnipeg Foundation

A recent agreement between The Winnipeg Foundation and the Jubilee Fund will see the Foundation investing up to half a million dollars in the Jubilee Fund during the next four years.

The partnership between the Jubilee Fund and The Winnipeg Foundation was reached after the two organizations examined several options on how they could potentially work together. By purchasing an investment certificate, The Winnipeg Foundation’s investment will provide the Jubilee Fund with the funds and flexibility it needs to become involved with new projects throughout Manitoba, adhering to its current guidelines for ethical screening, including assisting low-income applicants.

“The Jubilee Fund is a very special and unique investment fund that was established to raise awareness of the inter-related issues of poverty reduction, financial assets and access to credit,” said Fund President Neil Childs. “The Winnipeg Foundation’s investment will enable the Fund to expand its work beyond the city boundaries,” he added.

With a focus on Aboriginals, newcomers and low-income communities in Winnipeg and Manitoba, The Jubilee Fund uses economic development principles and provides bridge financing or loan guarantees to applicants. The Jubilee Fund is permitted to make loan arrangements with parties outside of Winnipeg but within Manitoba.

“The Winnipeg Foundation looks at this investment [through the Jubilee Fund] as an integral part of its vision for long term community-building and sustainability,” Foundation CEO Rick Frost said at the agreement announcement.

The first investment installments were made in October 2013 and the first project signed by the Jubilee Fund is the “Visions of Independence” in Portage la Prairie.