New Building Canada Fund is “open for business”
Last week on March 28, the Canadian government officially launched the New Building Canada Fund, saying it is "open for business."
Last week on March 28, the Canadian government officially launched the New Building Canada Fund, saying it is “open for business.”
Denis Lebel, Minister of Infrastructure, Communities nd Intergovernmental Affairs, said: “with the launch of the New Building Canada Fund today, provinces, territories, municipalities and other proponents may now apply.”
The New Building Canada Fund is a key element of the $53 billion New Building Canada Plan which funds infrastructure projects over the next decade. The government says the funds are allocated through various investment programs: the National Infrastructure Component ($4 billion), the Provincial-Territorial Infrastructure Component ($10 billion), and the Small Communities Fund. Funds are also given through the Community Improvement Fund (which is funded by the gas tax refund ($21.8 billion) and the goods and services tax rebate for municipalities ($10.4 billion), and the P3 Canada Fund ($1.25 billion).
To find details on how to submit a project for funding, click here.