Government of Canada provides additional funds to invest in trade corridor projects

VANCOUVER, BC, July 14, 2021 / CNW / – The government of Canada undertakes to strengthen from Canada trade corridors, which help our economy grow, recover and create good jobs for the middle class.

Today, the Minister of Transport, the Honorable Omar Alghabra, announced that the National Trade Corridors Fund has officially received additional funding from $ 1.9 billion and that projects can now be funded. Applications are now being accepted and assessed under the fund’s ongoing call for proposals.

The fund ensures that from Canada the transport system is well placed to attract further private sector investment; reduce barriers to trade; help businesses grow, create jobs and stay competitive during the period of pandemic recovery. Additionally, the fund builds long-term resilience and addresses urgent transportation needs in the Arctic and Northern regions by ensuring that at least 15% of the renewed funding is strictly dedicated to this region.

Transport Canada offers the National Trade Corridors Fund, which supports improvements from Canada roads, railways, air and sea to promote domestic and international trade.

Quote
“As Canada emerges from the pandemic, it is important that we support projects that will create well-paying jobs for the middle class. By financing investments in our roads, railways, air and sea, we are building Canada better while increasing our competitiveness globally. “

The Honorable Omar Alghabra
Minister of Transport

Fast facts

  • The 2021 budget provides for a $ 1.9 billion for the National Trade Corridors Fund for strategic investments in transport through Canada.

  • This new funding will be based on the $ 1.9 billion committed to 89 projects nationwide to date through the National Trade Corridors Fund. With private and public sector partners joining the federal government with their own contributions, these projects represent $ 3.9 billion value of investments.

  • Applicants who wish to explore funding opportunities for their initiatives are encouraged to speak to representatives of Transport Canada, who can provide advice on the process.

  • The National Trade Corridors Fund is a merit-based program that helps owners and users of infrastructure invest in critical assets that support economic activity in Canada. It represents a long-term commitment of the government to Canada work with stakeholders on strategic infrastructure projects.

  • The National Trade Corridors Fund is one component of the $ 180 billion ” Invest in Canada plan ”, the government of from Canada strategy to meet long-term infrastructure needs in Canada.

  • The quality of from Canada Canada’s transportation infrastructure and efficient trade corridors are key to the success of Canadian businesses in the global marketplace.

  • In the Greater Vancouver area, the National Trade Corridors Fund contributes $ 374 million for 16 projects to build a more fluid road, rail and maritime gateway through from Canada busiest port. Thanks to the contributions of partners, this enabled $ 967 million total investments to support trade and growth.

Related links

SOURCE Transport Canada

Cision

See original content: http://www.newswire.ca/en/releases/archive/July2021/14/c3280.html


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