The federal government says it will provide $372.5 million in interest-free loans to Bombardier, a move that elicited criticism even though it is far less than the transportation giant originally sought more than a year ago.
The money will be handed out in instalments over four years to support the Global 7000 and CSeries aircraft projects, the government said.
Innovation Minister Navdeep Bains said the money will preserve thousands of high-paying technology jobs in Ontario where the Global will be assembled and Quebec where it is completed and the CSeries is built.
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