I'd like to recognize the work that the member has conducted with respect to really highlighting the importance of supporting the social innovation and social finance sector. Our government understands that for us as a country to solve the often complex challenges faced by communities, we have to look beyond traditional approaches. That is why we will be creating a social finance fund, so that we can find new ways of helping Canada's most vulnerable people while continuing to focus on strengthening the middle class.
This fund will give charitable, non-profit and social purpose organizations access to new financing to implement their innovative ideas, and by investing $755 million in a social finance fund, we'll also help generate up to $2 billion in economic activity and help create and maintain as many as 100,000 jobs over the next decade. So far, with the investment readiness program, we've seen the oversubscription of that program. We've seen how critical it has been to build the capacity in social purpose organizations. COVID has actually highlighted the need for more investments in the space as a way for us to not only recover better but to recover stronger.