\n Prime Minister Mark Carney responds to a question during an event in Ottawa on Thursday, April 23, 2026. THE CANADIAN PRESS\/Adrian Wyld\n <\/p>\n
OTTAWA — Prime Minister Mark Carney announced the country’s first national sovereign wealth fund on Monday, pitching the new agency as a way for Canadians to invest in nation-building projects.<\/p>\n
Carney said the Canada Strong Fund will invest in major Canadian industrial projects in areas such as energy, infrastructure, mining, agriculture and technology.\n <\/p>\n
The prime minister said the federal government will put up funds starting at $25 billion to invest alongside private investors. He said individual Canadians can also put money into the fund and suggested it would be similar to purchasing a government bond, where the initial investment is protected.\n <\/p>\n
Returns from those investments will be put back into the fund to expand its capacity and build out capital projects in Canada.\n <\/p>\n
Speaking to reporters Monday, Carney compared the fund to a “national savings and investment account.” He also called it “the people’s fund.”\n <\/p>\n
“Building Canada strong means building a Canada where everyone has a stake, where growth is shared and where prosperity reaches every region, every community and every family,” he said.\n <\/p>\n
Countries such as Norway and many Gulf states already have large sovereign wealth funds.\n <\/p>\n
The Canada Strong Fund will be set up as an independent, arm’s-length Crown corporation. The federal government will consult over the coming months on the specific design of the investment instrument.<\/p>\n
Carney made the announcement Monday morning at the Canada Science and Technology Museum in Ottawa, a day before the Liberal government tables the spring economic update.\n <\/p>\n
The prime minister suggested there would be “good news” on the federal deficit in Tuesday’s update.\n <\/p>\n
This report by The Canadian Press was first published April 27, 2026.\n <\/p>\n
\u2014 with files from Kyle Duggan and Sarah Ritchie\n <\/p>\n
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