The money is for farmers hit by drought and wildfires from British Columbia to Northwestern Ontario.
The government also announced tax deferrals for drought regions in the same area.
The federal and provincial governments have agreed to increase the 2021 AgriStability interim benefit payment percentage from 50 to 75 per cent, so producers can access a greater portion of their benefit early to meet their urgent needs.
British Columbia and Manitoba have also opened up late participation in AgriStability to farmers who did not register in 2021.
The $500 million from the federal government is for matching money from the provinces on a 60-40 per cent split.
