Exclusive: Canada to set up C$15 billion fund to attract more private investment – source
2022.04.06 21:22
FILE PHOTO: Canada’s Deputy Prime Minister and Minister of Finance Chrystia Freeland speaks at a press conference in Ottawa, Ontario, Canada, February 17, 2022. REUTERS/Patrick Doyle/File Photo
By Steve Scherer
OTTAWA (Reuters) – Canada will earmark C$15 billion ($12 billion) over five years for a Growth Fund aimed at attracting private investment in new and green technologies, a senior government source said on Wednesday, a day before Finance Minister Chrystia Freeland is due to present this year’s budget.
The money being set aside for the fund will come from the “existing fiscal framework” and the government will seek to attract C$3 of private investment for every C$1 of public funding, the source, who was not authorized to speak on the record, said.
The finance ministry declined to comment.
($1 = 1.2516 Canadian dollars)
