Canada's Carney launches a sovereign wealth fund. What is it?
The fund - which Canadians can invest in directly - will help pay for major infrastructure projects in the country, the prime minister says.
Coverage by Political Leaning
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Notable Quotes
"Many countries that are blessed with natural resources like Norway have sovereign wealth funds. Canada hasn't had one, until now."
— Mark Carney , Politician
"Carney has no surplus, and therefore no wealth to put in such a fund."
— Pierre Poilievre , Politician
"Historically, sovereign wealth funds are vehicles for countries that generate a lot of income from publicly-owned assets, and this is almost always oil wealth."
— Joseph Steinberg , Academic
"We take a lesson from other jurisdictions that had the foresight many decades ago to start sovereign wealth funds."
— Mark Carney , Politician
"invest alongside the private sector in nation-building projects, on a fully commercial basis"
— Mark Carney , Politician
"The U.S. has changed. That’s their right and we are responding. That is our imperative."
— Mark Carney , Politician
"I would argue there’s not a grown-up in Canada in charge there. You don’t go out of your way to antagonize the leader of the country that you are absolutely existentially tied to. It’s just political malpractice."
— Rick Switzer , Executive
"invest alongside the private sector in nation-building projects, on a fully commercial basis"
— Mark Carney , Politician
"Creating more resilience might be investing not internationally, but domestically, in a way that makes the Canadian industry more self-sufficient and more independent."
— Paul Calluzzo , Academic
"Norway has a small stake in almost every publicly traded company in the world."
— Paul Calluzzo , Academic
"This will be a government of Canada fund, but more importantly, it will be a people’s fund, it will be your fund."
— Mark Carney , Politician
"For the first time in the history of Canada, Canadians will not just contribute to the realization of these projects, they will benefit directly from their return."
— Mark Carney , Politician
"They should be grateful to us, Canada. Canada lives because of the United States."
— Donald Trump , Politician
Key People
Former president of the United States known for his aggressive economic policies.
Jordan Eizenga leads Deloitte Canada’s infrastructure and real estate practice.
Joseph Steinberg is an economics professor at the University of Toronto.
Mark Carney is the Prime Minister of Canada.
Paul Calluzzo is an associate professor at the Smith School of Business.
Pierre Poilievre is the Conservative Leader in Canada.
Rick Switzer is the Deputy U.S. Trade Representative.
Tags
All Coverage
The fund - which Canadians can invest in directly - will help pay for major infrastructure projects in the country, the prime minister says.
Prime Minister Mark Carney announced the development of Canada's first sovereign wealth fund, aiming to invest in major industrial projects and reduce economic reliance on the United States.
Canada is creating its first sovereign wealth fund to provide financing for large infrastructure projects, with a mechanism for individual Canadians to make contributions.
Prime Minister Mark Carney announced the creation of a government-owned investment fund valued at 25 billion Canadian dollars ($18 billion USD) to support major industrial projects across sectors such as energy, infrastructure, mining, agriculture, and technology.

Prime Minister Mark Carney announced the creation of Canada's first-ever sovereign wealth fund, beginning with a $25-billion endowment to support major projects crucial to reducing Canada's economic reliance on the United States.
Canadian Prime Minister Mark Carney announced plans to establish a sovereign wealth fund to reduce Canada's economic dependence on the United States, amid deteriorating relations under President Donald Trump's second administration.
Prime Minister Mark Carney announced the creation of the country’s first-ever sovereign wealth fund, called the Canada Strong Fund, aiming to invest in major Canadian industrial projects in areas such as energy, infrastructure, mining, agriculture, and technology.
Canada will create its first sovereign wealth fund to provide financing for large infrastructure projects, Prime Minister Mark Carney said, with a mechanism for individual Canadians to make contributions.
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