From Global News.

Canadian Prime Minister Mark Carney unveiled Canada’s first sovereign wealth fund at an announcement in Ottawa on Monday.

“The sovereign wealth fund is essentially a national savings and investment account. It’s designed to grow wealth for future generations of Canadians,” Carney said, “The Canada Strong Fund will invest alongside the private sector in nation building projects on a fully commercial basis. We will begin with an initial endowment of $25 billion, over time the fund will grow through asset recycling and reinvestment creating even greater opportunities for future generations," he added.

The announcement comes a day ahead of the spring economic statement, one year to the day after the party secured a minority mandate in the federal election.

For more info, please go to https://globalnews.ca/news/11817830/carney-spring-economic-update-pressure/

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