NEWS
03/03/2016 11:10 EST | Updated 03/04/2017 00:12 EST

Albert partners with Business Development Bank of Canada to grow economy

EDMONTON — The Alberta government and the Business Development Bank of Canada are working together to grow small and medium-sized businesses.

The two have signed a memorandum of understanding to boost venture capital funding through the bank.

The agreement was signed by Economic Development Minister Deron Bilous and bank president Michael Denham.

The province is undertaking a number of initiatives to help grow and diversify the economy.

It is already making $1.5 billion in capital available through ATB Financial for loans to small and medium-sized businesses.

Continuing low oil prices have led to thousands of job losses in Alberta.