Prime Minister Mark Carney announces creation of Canadian sovereign wealth fund
The Strong Canada Fund will back major projects with private capital and let Canadians invest directly, officials said, as details are expected later.
- On Monday, Prime Minister Mark Carney unveiled Canada's first national sovereign wealth fund, the Canada Strong Fund, launching with $25 billion to invest in major industrial projects including energy, infrastructure, mining, agriculture, and technology.
- Designed to complement the Major Projects Office, the fund coordinates financing from the private sector, provincial, and territorial partners to accelerate national industrial development alongside federal investment.
- Unlike the Alberta Heritage Savings Trust Fund, this initiative allows individual Canadians to contribute directly, positioning Canada as a stable destination for global capital investment.
- Finance Minister Francois-Philippe Champagne will deliver the spring economic update on Tuesday, expected to build on the fund announcement as the government addresses fiscal projections.
- Conservative Leader Pierre Poilievre urged the government to cap this year's deficit at $31 billion, accusing the administration of "credit card budgeting" rather than pursuing a balanced budget.
127 Articles
127 Articles
Canadian Prime Minister Mark Carney announced the creation of the "Fund for a Strong Canada," a few weeks of tense negotiations with the American neighbour.
Canada's Prime Minister, Mark Carney, announced on Monday, April 27, the creation of a new Canadian sovereign wealth fund, comparing his country with Norway - because of vast natural resources, although they remain more modest. With initial federal funding of C$25 billion, or about €15 billion, this fund, which will also involve Canadian citizens, aims to reduce Canada's economic dependence on the United States over the next decades.
Good morning, Canada is getting its own sovereign wealth fund under the bold name ‘Canada Strong Fund’. Prime Minister Mark Carney announced this yesterday in a…
Canada has unveiled a federal sovereign wealth fund for the first time in 160 years since its founding in 1867. It is not a typical sovereign wealth fund model like those of Norway or Qatar, which accumulate resource profits in overseas financial assets to leave for future generations. Instead, it is closer to an industrial strategy fund that uses seed money raised through government debt to attract private and foreign capital, which then makes …
The government of Mark Carney has taken another step in its economic development strategy, in a context deeply marked by tensions with the United States. On Monday, the Canadian Prime Minister announced the creation of a sovereign investment fund; this is the first time that Canada will have such a financial mechanism. Carney assured that this fund will strengthen the country and generate wealth for both Canadians today and for the next generati…
Canada is developing a public investment fund, announced Prime Minister Mark Carney on Monday. Carney said that the fund will invest in major industrial projects...
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