"The 'Strong Canada Fund' will serve as an investment vehicle to finance major projects of national interest and will work in partnership with the private sector."
"'If you have a bit of extra money we'll make it easy for you to invest in the fund to help build Canada strong for all,' he said."
"Bill C-5 enables the federal cabinet to pick projects, approve them upfront and override federal laws, environmental reviews and the permitting process."
"The Major Projects Office (MPO) will help structure and co-ordinate financing from the private sector, provincial and territorial partners and the federal government."
The Strong Canada Fund will be Canada's first sovereign wealth fund, aimed at financing major national projects in partnership with the private sector. Canadians will have the opportunity to invest in the fund. Bill C-5, which passed last June, streamlines the approval process for nation-building infrastructure projects, reducing approval times significantly. The Major Projects Office, created to coordinate financing and address concerns, will work alongside the new fund. Further details on the fund's operation and its collaboration with the MPO are anticipated soon.
Read at www.cbc.ca
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