Feds to Invest $6B in Transportation Infrastructure
The federal government has launched two trade-infrastructure funds totalling $6 billion to move more exports to countries other than the U.S.
The funds are geared toward enhancing transportation infrastructure.
“Canada is building the trade and transportation corridors of tomorrow,” said Steven MacKinnon, the federal transport minister. “These infrastructure investments will create skilled, well-paid jobs, strengthen regional economies, and help Canadian businesses get their goods to new markets. They’re smart, strategic commitments to Canada’s long-term economic resilience and sovereignty.”
The $5-billion Trade Diversification Corridors Fund is designed to bolster trade corridors across ports, railways, and roads so that Canadian products move efficiently to global markets;
The $1-billion Arctic Infrastructure Fund is slated to support to support dual-use – civilian/community and defence – transportation projects. The projects are intended to reinforce Canada’s sovereignty, enable regional economic development, and connect northern and Indigenous communities.”
“This investment is a cornerstone of Canada’s mission to double our non-U.S. exports over the next decade,” said International Trade Minister Maninder Sidhu. “By expanding our export capacity and building modern trade corridors, we’re connecting Canadian businesses to fast-growing and reliable global markets. It strengthens the routes that move our critical minerals, clean technologies, agri-food, and manufactured goods, ensuring Canadian products reach the world faster and more competitively while advancing our climate goals and delivering real economic growth at home.”
Ottawa expects funds to generate $300 billion more in exports over the next decade.
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