CAN GVT Disaster Recovery Funding

Published on: Feb 1, 2025

On Jan. 29, CAN GVT reported modernization of assistance program.

  • CAN GVT reported additional details on the upcoming modernization of the Disaster Financial Assistance Arrangements (DFAA) program, to come into effect Apr. 1, 2025.
  • Program ensures that when disasters impact Canadians and all levels of government, financial assistance to provinces and territories will be delivered quickly and efficiently.
  • Program Details
  • Covers eligible disaster response and recovery expenses from provinces or territories and that exceed what they could reasonably be expected to bear on their own.
  • Helps provinces and territories cover the costs associated with disaster recovery.
  • Program Modernization
  • Will provide increased investments in strategic disaster mitigation and building back better to minimize disaster impacts on communities and the risk of future disasters.
  • Also, expanded support for people hardest hit by the impacts of significant disasters.
  • For eligible disasters occurring on or after Apr. 1, 2025, the DFAA will cost share expenses re disaster response; uninsurable losses for homes and small businesses.
  • Also, repairs and restoration of damaged infrastructure to more resilient levels.
  • Supports for people experiencing significant disaster impacts; and strategic mitigation.
  • Includes incentive, aims to recognize importance of pre-disaster investments that reduce response and costs and lessen impacts of disasters on people and businesses.
  • Effectiveness
  • DFAA guidelines for modernized program will be finalized when they come into effect.
  • Former program guidelines will remain active until prior events are fully closed, final.
  • Modernized program comes into effect on Apr. 1, 2025.
Regulators
CAN GVT
Entity Types
CNSM; Corp
Reference
PR, 1/29/2025
Functions
BCS; Compliance; Financial; Legal; Operations; Risk
Countries
Canada
Category
State
N/A
Products
Corporate
Rule Type
Final
Regions
Am
Rule Date
Jan 29, 2025
Effective Date
Apr 1, 2025
Rule ID
242009
Linked to
N/A
Reg. Last Update
Jan 29, 2025
Report Section
International