Canada announces creation of first national sovereign wealth fund

OTTAWA, (UrduPoint / Pakistan Point News / WAM - 28th Apr, 2026) Canadian Prime Minister Mark Carney has announced his plan to create Canada's first national sovereign wealth fund—the Canada Strong Fund.

The "Canada Strong Fund" will serve as an investment vehicle to finance major projects of national interest and will work in partnership with the private sector, Carney said.

Through an initial Federal contribution of $25 billion, the Fund will strategically invest, alongside the private sector, in Canadian projects and companies driving our economic transformation.

This includes projects in clean and conventional energy, critical minerals, agriculture, and infrastructure.

''The returns will be reinvested to grow the Canada Strong Fund, strengthening its capacity over time. As the Fund grows, it will direct capital toward investments with the highest potential return for Canada and Canadians,'' he added.

In order to allow people to contribute to the fund, the federal government will launch a "retail investment product" like a mutual fund or pension scheme where Canadians can buy into the fund and earn a dividend.