Absolutely, Romy.
Mr. Chair, the timelines vary by program. I'll take an example of the two programs that were talked about the most today, which were the coinvestment fund and the rental construction initiative, as well as the rapid housing initiative.
We try to connect with proponents and give them clarity relative to the likely outcomes of their program within two weeks of their initial submission. We work with them toward developing a successful application and see it through to funding. That can take—as you know, having been in the banking sector for some time—around six to seven months. That's in order to completely understand the risks we're facing and to put a plan in place to mitigate them and make sure they can deliver a successful project.
We've made a number of changes in order to take in the feedback that we've received from proponents. In the coinvestment program, we received some feedback that for smaller proponents, the loan and contribution streams were difficult to navigate. We made sure to develop a program that was the right size for those organizations. That's when we launched and made a contribution-only program that allowed them to access funding within four weeks.
We've put things in place like this across our various programs to make sure we adjust to the feedback of the proponents we deal with.