Canada’s National Trade Corridors Fund
Transport Canada has released details of the $2 billion National Trade Corridors Fund, one component of the $180 billion the government of Canada’s Investing in Canada Plan. The plan is a strategy for addressing long-term infrastructure needs in Canada and supporting middle-class growth and well-paying jobs.
“The quality of Canada’s transportation infrastructure and the efficiency of the country’s trade corridors is key to the success of Canadian firms in the global marketplace,” A Transport Canada statement said.
The government of Canada is providing support for well-functioning trade corridors that will allow Canadians to compete in key global markets and trade more efficiently with international partners. It represents a long-term commitment by the government of Canada to work with stakeholders on strategic infrastructure projects that help to address transportation bottlenecks, vulnerabilities and congestion along Canada’s trade corridors.
The National Trade Corridors Fund is also a key element of Transportation 2030, the Minister of Transport’s strategic plan for the future of transportation. The development of this vision, including the National Trade Corridors Fund, has been informed by extensive engagement with Canadians from coast to coast to coast, along with insights contained in the 2015 Canada Transportation Act Review report.
The National Trade Corridors Fund is a merit-based program designed to help infrastructure owners and users invest in the critical assets that support economic activity and the physical movement of commercial goods and people in Canada.
A total of $2 billion over 11 years has been allocated for the National Trade Corridors Fund, including up to $400 million in dedicated funding for Northern territorial transportation infrastructure.
Provincial, territorial and municipal governments, indigenous groups, not-for-profit and for-profit private-sector organizations, federal crown corporations, Canadian Port Authorities, and National Airport System Airport Authorities were invited to submit proposals to Transport Canada which were then evaluated against the eligibility criteria for the program.
Types of projects that meet the eligibility criteria include ports, airports, roads, railways, intermodal facilities, international bridges, and border crossings—assets that are the primary building blocks of the supply chains that enable the physical exchange of goods around the world and also support the critical movement of people and goods in Canada’s Northern territories.
In addition to the $2 billion of investments under the National Trade Corridors Fund, the Canada Infrastructure Bank will invest at least an additional $5 billion to address trade and transportation projects.