Develop a Social Innovation and Social Finance strategy.

What success looks like

A government-wide strategy is established that facilitates new and innovative ways of addressing Canada's biggest social challenges.

Government's narrative on progress

In August 2018, the Government of Canada made public the recommendations report of the Social Innovation and Social Finance Strategy Co-Creation Steering Group. In response to Steering Group recommendations, the government proposed through its Fall Economic Statement 2018 to make available up to $755 million over the next 10 years on a cash basis for a repayable Social Finance Fund and to allocate $50 million for Investment and Readiness grants and contributions over two years, 2019–20 and 2020–21. Budget 2019 introduced additional details on the Social Finance Fund, including a $50 million investment through the Social Finance Fund to be made in the newly proposed Indigenous Growth Fund, and a minimum of $100 million to be allocated towards projects that support greater gender equality. This investment will mean that community organizations can access financing to create jobs and address important issues in their communities. It will also mean that investors of all types will have new opportunities to invest in community organizations solving problems on the front lines.

Note: this is the government's own description, not an independent assessment.