Quebec government has chosen to support Québec's forestry sector, which has been facing a number of challenges over the past few years, including the major forest fires in the summer of 2023 and the imposition by the United States of countervailing and anti-dumping duties on Canadian lumber. The additional investments of $252 million over five years will enable initiatives worth $540 million over the next seven years to provide support to the wood processing sector and invest in reforestation efforts.
Providing $100 million to support the wood processing sector
To support certain businesses currently facing liquidity problems, notably because of the dispute with the United States over various softwood lumber products, financial assistance of up to $100 million will be granted in the form of loans.
Investing $440 million in reforestation efforts
The Québec government and the Canadian government have agreed to step up reforestation efforts and to plant more than 100 million trees in public and private forests by 2030-2031. More specifically, the Canadian government has committed to contributing $220 million under the 2 Billion Trees program to further the Québec government's efforts aimed at increasing reforestation, particularly in unproductive sites and areas affected by natural disturbances, and to ensure tree planting maintenance, bringing the total investment to $440 million.
