Canada launches ‘People’s Fund’ to boost economy

The new “Canada Strong Fund” will begin with an initial 25 billion Canadian dollars over three years and will invest primarily in domestic infrastructure projects, including ports, pipelines, nuclear energy, and high-speed rail.

“This will be a Government of Canada fund, but more importantly, it will be a people’s fund. It will be your fund,” Carney told reporters in Ottawa. “Many countries that are blessed with natural resources, like Norway, have sovereign wealth funds. Canada hasn’t had one until now.”

The fund will operate at arm’s length from the government as an independent entity and is expected to take equity stakes in major projects rather than provide loans. Officials say it will grow over time through returns and additional assets allocated by the government.

Carney linked the initiative to broader plans to support large-scale “nation-building” projects and counter economic pressure, including trade tensions with Washington.

“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 returns,” he said.

Unlike some global sovereign wealth funds, the Canada Strong Fund will initially focus on domestic investments, though it may expand its scope in the future. Canadians will also be able to invest directly, in a structure similar to government bonds but with potential for additional returns.

The government is expected to hold consultations in the coming months to finalize details of the fund’s structure and governance.

Earlier, Qazinform News Agency reported that the value of the Government Pension Fund Global in Norway exceeded $2.2 trillion as of the end of 2025.