The federal government is investing in the first-ever Black Entrepreneurship Program.

Prime Minister Justin Trudeau announced the $221-million fund Wednesday morning.

The fund will help to support black entrepreneurs access training, up to $250-thousand in business loans and create a Black Entrepreneurship Knowledge Hub.

The federal government will give $93-million over three years with the rest of the funding coming from Canada’s banks.

Trudeau says the new program will help Black business people overcome longstanding discrimination and systemic racism.

***With files from Wendy Gray