Prime Minister Carney announces first round of projects as part of the Build Communities Strong Fund.
Maintaining the federal government’s momentum when it comes to infrastructure-related announcements, Prime Minister Mark Carney recently officially launched the Government of Canada’s Build Communities Strong Fund, representing a $51 billion investment aimed at building the infrastructure that communities across the country rely on most.
The committed funds will support the speedy construction of community amenities including hospitals, recreation centres and post-secondary educational institutions as well as the development of core infrastructure needs like bridges, water and wastewater systems and transit systems.
Steady streams of funding
Delivered via three major streams, the Build Communities Strong Fund has been strategically structured to roll out investment over a ten-year period.
Provincial and territorial stream: funding of $17.2 billion over 10 years to support the delivery of critical infrastructure projects. Funding will be allocated across provinces and territories through bilateral agreements and will include the development of health-related infrastructure, housing-enabling infrastructure and infrastructure at colleges and universities.
Funding breakdown under the provincial and territorial stream:
- $6 billion for Ontario
- $3.6 billion for Québec
- $2.2 billion for British Columbia
- $1.9 billion for Alberta
- $698 million for Manitoba
- $610 million for Saskatchewan
- $542 million for Nova Scotia
- $461 million for New Brunswick
- $352 million for Newfoundland and Labrador
- $204 million for Prince Edward Island
- $156 million for the Northwest Territories
- $156 million for the Yukon
- $155 million for Nunavut
Direct delivery stream: funding of $6 billion over 10 years to support the delivery of critical local infrastructure and projects of regional significance. This work will include large building retrofits, climate adaptation infrastructure and community infrastructure.
Community stream: funding of $27.8 billion over 10 years to support local infrastructure upgrades, including the construction and rehabilitation of roads, bridges, water systems and community centres.
Matching funds
The intention is for funds to be matched by provinces, which will inject an additional $17 billion to the Build Communities Strong Fund. And because eligible projects will be required to procure under Canada’s new Buy Canadian Policy, more of the money that goes into the projects will be reinvested into Canadian organizations.
Building Canada strong
It’s all part of the government’s plan to build more homes, strengthen communities and grow the country’s economy. And, according to Prime Minister Mark Carney, it’s a nation-building project to benefit every Canadian from coast-to-coast-to-coast.
“Canada’s new government is on a mission to build big things, including the local infrastructure that brings Canadians together. With the Build Communities Strong Fund, we are partnering with provinces and territories to move projects forward, reduce barriers to building and deliver the housing and infrastructure Canadians need – from hospitals and transit lines to bridges and community centres. We are building communities strong to build Canada strong for all.”