Agriculture Minister Gerry Ritz is reaching outside of the agriculture community for two appointees to three-year terms and directors on the board of Farm Credit Canada.
He has chosen Jamie Muir, a veteran Nova Scotia cabinet minister who held several portfolios before being named finance minister, and Colin May, a securities lawyer with Miller Thomson is Calgary.
Farm Credit Canada is a crown corporation that lends to farmers. It’s portfolio of loans has been skyrocketing to close to $26 billion.
Both land and quota prices have been rising to record highs and Farm Credit Canada is the main source of long-term credit for Canadian farmers.
Its borrowings to extend loans to farmers are backed by the federal government.