The Canadian government today announced two trade infrastructure funds, including one covering Arctic projects, to unlock new export opportunities and build a more resilient, diversified economy.
From Brampton, Ontario, Steven MacKinnon, Minister of Transport and Leader of the Government in the House of Commons and Maninder Sidhu, Minister of International Trade, announced the trade infrastructure funds supported by $6 billion over seven years through federal Budget 2025.
“These investments will help build the infrastructure Canada needs to unlock access to new global markets, while also doubling non-U.S. exports,” a press release stated. “Over the next decade, the funds could help generate $300 billion more in exports. These funds will be delivered by Transport Canada in partnership with the Canada Infrastructure Bank, Crown-Indigenous Relations and Northern Affairs Canada, the Canadian Northern Economic Development Agency, and National Defence.”
The funds:
- The $5 billion Trade Diversification Corridors Fund, which is intended to strengthen Canada’s trade corridors across ports, rail, and roads, ensuring Canadian products move efficiently to global markets;
- The $1 billion Arctic Infrastructure Fund to support dual-use – civilian / community and defence – transportation projects that reinforce Canada’s sovereignty, enable regional economic development, and connect Northern and Indigenous communities.
(Photos of ministers Steven MacKinnon and Maninder Sidhu)