Thank you.
The productivity superdeduction was very welcomed by our members. We provided a session to our member companies to explore this further and to provide them with advice as to how they could take advantage of the measure. There were some new funds announced, including for the regional development agencies, which I think is fantastic, as that will provide support, especially to some of our SMEs.
For some of these new programs, though, the really important thing will be the details. In terms of FCC, their previously announced venture with an additional 20 other firms was welcomed, but that will only serve the needs of a very specific type of company in this country.
The new fund sounds like a lot at $1 billion, but we don't know the details of that. As Sylvie mentioned, we are looking in some cases for non-refundable contributions that help to reduce the total project costs and that are sometimes needed to meet the return on investment thresholds required by private investors or commercial lenders.
Really, we are looking for a good mix of repayable and non-repayable contributions. I think there's still a bit of work to do, but there has been promising news over the last week.