The Alberta government is redirecting more than $1 billion from its Heritage Savings Trust Fund to set up endowments to fight poverty and aid agriculture.
Premier Alison Redford says with the savings fund growing, it's time to put some of the money to work helping Albertans and diversifying the economy.
The Social Innovation Fund will be capitalized with $500 million this year and another $500 million the next.
It will explore ideas such as using the private sector to find new ways to eliminate poverty and family violence.
Source: Dr. Roger Palmer, Chair of The Alberta Centre for Child, Family and Community Research stands alongside Premier Alison Redford as she announces $1B in funding for new endowments