2026-04-27 19:56
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2026-04-27 19:56
Canada's first sovereign wealth fund, which will invest in Canadian ventures, received CAD 25 billion from the budget at the beginning, Prime Minister Mark Carney announced on Monday.
Carney said the fund would be managed by a state-owned company, accountable to parliament. The fund is intended to serve as a “national savings and investment account” and “multiply resources for future generations,” Carney emphasized at a press conference in Ottawa. He added that it will be a government fund, “but more than that, it will be a fund (belonging – PAP) to the people, it will be your fund.”
The fund, operating as a sovereign wealth fund, will use budget money and funds from large private investors, and will also provide Canadians with the opportunity to purchase shares through a “retail investment product,” wrote the press office of the Prime Minister. Investment profits will be reinvested by the fund, increasing its scale.
Named fund Canada Strong Fund (Strong Canada Fund, where “strong” refers to the Canadian anthem – PAP) will invest in Canadian projects and companies supporting economic transformation, including projects related to renewable and conventional energy, critical minerals, agriculture and infrastructure.
Carney outlined the government's intentions both during a press conference and in a video posted on YouTube. The Prime Minister announced such a model of regular communication, directly addressed to Canadians, explaining the government's actions, a week ago on Sunday, in a speech on, among others, Canada's security.
From Toronto Anna Lach (PAP)
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