Carney unveils Canada’s 1st sovereign wealth fund

Prime Minister Mark Carney is unveiling the country’s first national sovereign wealth fund, which will begin at $25 billion.

Carney says the fund will invest in major Canadian industrial projects in areas such as energy, infrastructure, mining, agriculture and technology.

The prime minister says the federal government will put up funds alongside private investors.

Countries such as Norway and Gulf states already have large sovereign wealth funds.

Carney made the announcement today at the Canada Science and Technology Museum.

The announcement comes just a day before the Liberal government’s spring economic update.

This report by The Canadian Press was first published April 27, 2026.

By The Canadian Press | Copyright 2026, The Canadian Press. All rights reserved.