BRAMPTON, ONT.—The federal government has announced additional funding of $1.9 billion for the National Trade Corridors Fund.
Applications are now being accepted and assessed under the fund’s continuous call for proposals.
In Ontario, 10 projects across the province have received $66 million in funding since 2017. With partner contributions, this has brought $139 million of total investments for ports, airports, roads and border fluidity, a July 13 release stated.
The fund “ensures that Canada’s transportation system is well-positioned to attract further private-sector investment; reduce barriers to trade; help businesses grow, create jobs, and remain competitive through the pandemic recovery period,” the release stated. In addition, the fund is intended to address transportation needs in the Arctic and northern regions by ensuring that at least 15 per cent of the renewed funding is dedicated to the region.
Transport Canada administers the fund. The announcement was made in Brampton, Ont. by Minister of Transport Omar Alghabra.
The funding doubles the existing allotment of $1.9 billion committed to date for 89 projects nationally through the fund.
“As Canada emerges from the pandemic, it’s important that we support projects that will create well-paying middle-class jobs. By funding investments in our roads, rail, air and marine shipping routes, we’re building Canada back better while increasing our competitiveness globally,” said Alghabra.