Canada Invests C$1.9B for Trade Corridor Projects
Applications are now being accepted on a rolling basis. Eligible to apply: provincial, territorial and municipal governments; Indigenous groups; not-for-profit and for-profit private-sector organizations; federal Crown Corporations or agencies; Canadian Port Authorities; National Airport System airport authorities; and academia.
The government of Canada’s 2021 budget provided NTCF with the additional funding over four years, bringing the total NTCF envelope to C$4.2 billion (US$3.36 billion) since 2017.
The fund ensures that Canada’s transportation system is “well-positioned to attract further private-sector investment; reduce barriers to trade; and help businesses grow, create jobs, and remain competitive through the pandemic recovery period,” according to Transport Canada. It also “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.”
To date, C$1.9 billion (US$1.52 billion) has been committed for 89 national projects, which represent a total investment of C$3.9 billion (US$3.12 billion) from the federal government and private- and public-sector partners.
“By funding investments in our roads, rail, air and marine shipping routes, we’re building Canada back better while increasing our competitiveness globally,” Minister of Transport Omar Alghabra said.