Canada announced the $2 billion National Trade Corridors Fund, which is a strategy for improving Canada’s transportation infrastructure and the efficiency of the country’s trade corridors. This aims to make Canadian firms key players in the global marketplace.
A total of $2 billion over 11 years has been allocated for the National Trade Corridors Fund, including up to $400 million in dedicated funding for Northern territorial transportation infrastructure.
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The Government of Canada will provide support for well-functioning trade corridors that will allow Canadians to compete in key global markets and trade more efficiently with international partners.
The National Trade Corridors Fund is part of Transportation 2030, Canada’s strategic plan for the future of transportation. The National Trade Corridors Fund will help infrastructure owners and users invest in the critical assets that support economic activity and the physical movement of commercial goods and people in Canada.
Types of projects that meet the eligibility criteria include,
- Ports;
- Airports;
- Roads;
- Railways;
- Intermodal facilities;
- International bridges;
- Border crossings.
In addition to the $2 billion of investments under the National Trade Corridors Fund, the Canada Infrastructure Bank will invest at least an additional $5 billion to address trade and transportation projects.
