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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.
68 Articles
68 Articles
Canada announces new sovereign wealth fund with call for investments from citizens
Canada is opening the country’s first sovereign wealth fund, Prime Minister Mark Carney announced on Monday. The “Canada Strong Fund” will invest in Canada’s various nation-building projects, including in trade, energy and critical minerals, transportation, and data industries, according to Carney. The fund will begin with an initial 25 billion Canadian dollar federal contribution over three years. “These projects will make Canada stronger, more…
Carney Announces Canada’s First Sovereign Wealth Fund
Prime Minister Mark Carney has announced plans to create a sovereign wealth fund that would back major projects deemed of national interest. The federal government will contribute $25 billion to the “Strong Canada Fund,” and accept investment from the private sector and individual Canadians, he said. The fund will include projects in “clean and conventional energy, critical minerals, agriculture, and infrastructure.” “The new Canada Strong Fund …
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