Carney to Launch Sovereign Wealth Fund to Distance Canada’s Economy From U.S.
Canada is establishing a sovereign wealth fund with an initial $25 billion CAD ($18 billion USD) to invest in domestic infrastructure and reduce economic dependence on the United States. Prime Minister Mark Carney described it as a 'people’s fund' that will operate like a private company and allow public investment. Unlike Norway’s oil-funded model, Canada’s fund will not draw directly from provincial oil royalties. The initiative supports Carney’s broader infrastructure agenda, including energy, transport, and nuclear projects.
- ▪Canada’s new sovereign wealth fund will launch with 25 billion Canadian dollars, significantly smaller than Norway’s $2 trillion fund.
- ▪The fund will focus on investing in Canadian infrastructure and will be open to investments by Canadian citizens.
- ▪Natural resource revenues belong to provinces in Canada, so the fund will not be financed by oil royalties like in Norway.
- ▪Alberta previously established a sovereign wealth fund in 1976, but stopped funding it in the 1980s and has since drawn from its assets.
- ▪Prime Minister Mark Carney linked the fund to broader economic plans, including pipelines, ports, nuclear energy, and high-speed rail.
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AdvertisementSKIP ADVERTISEMENTSupported bySKIP ADVERTISEMENTCarney Sets Up Investment Fund to Boost Canadian Economic IndependenceCanada’s sovereign wealth fund will be far smaller than ones in other oil-producing nations like Norway and the Middle East.Listen · 3:09 min Share full article15Prime Minister Mark Carney of Canada announcing a sovereign wealth fund at the Canada Museum of Science and Technology on Monday in Ottawa.Credit...Ian Austen/The New York TimesBy Ian AustenReporting from the steam locomotive hall at a science and technology museum in Ottawa where Prime Minister Mark Carney spoke.April 27, 2026Updated 1:52 p.m. ET window.registerInteractive && window.registerInteractive("100000010805361"); !function(){var e="gps_module_impressions",s="gps_suppress_module",t=new URLSearchParams(window.location.search),o="1"===t.get("gps_debug")?function(e,s){console.log("[gps]",e,void 0!==s?s:"")}:function(){};if(o("version",16),(document.documentElement.lang||"").toLowerCase().startsWith("es")&&(document.body.classList.add("gps-lang-es"),o("language: spanish")),"1"===t.get("gps_reset"))try{localStorage.removeItem(e),localStorage.removeItem(s),o("localStorage reset")}catch(e){}if(document.querySelector(".NYTApp"))o("hidden: NYTApp context");else{var a=!1;try{a=!!localStorage.getItem(s)}catch(e){}if(a)o("hidden: suppressed via "+s);else{var r=0;try{r=parseInt(localStorage.getItem(e),10)||0}catch(e){}o("impressions so far",r);try{r+=1,localStorage.setItem(e,String(r)),o("impression recorded",r)}catch(e){}document.body.classList.add("gps-show"),o("module shown")}}}().gps-module{display:none;background-color:var(--tpl-color-background-secondary,#f8f8f8);font-family:nyt-cheltenham,georgia,serif;text-align:center;padding:1rem 16px 16px 16px;max-width:600px;margin:1.25rem 20px;text-wrap:balance}.gps-show .gps-module{display:block}@media (min-width:640px){.gps-module{margin:1.25rem auto;box-sizing:border-box}}.gps-link{text-decoration:none;color:inherit;display:block}.gps-body{display:block;margin:0;font-family:nyt-franklin,helvetica,arial,sans-serif;font-size:.9375rem;line-height:1.4;font-weight:500;color:var(--tpl-color-content-primary,#121212)}.gps-cta{display:inline-block;margin-top:6px;font-family:nyt-franklin,helvetica,arial,sans-serif;font-size:.8125rem;font-weight:700;line-height:130%;border:1px solid var(--tpl-color-stroke-tertiary,#dfdfdf);background-color:var(--tpl-color-background-primary,#fff);color:var(--tpl-color-content-primary,#121212);padding:.375rem 1.125rem;border-radius:2rem}.gps-caret-sep{display:inline-block;width:.25rem}.gps-link:hover .gps-cta{border:1px solid var(--tpl-color-stroke-tertiary,#dfdfdf);background:var(--tpl-color-background-tertiary,#ebebeb)}.NYTApp .gps-module{display:none}.gps-es{display:none}.gps-lang-es .gps-module .gps-es{display:inline}.gps-lang-es .gps-module .gps-en{display:none}See more of our coverage in your search results.Encuentra más de nuestra cobertura en los resultados de búsqueda. Add The New York Times on GoogleAgrega The New York Times en Google !function(){if(document.body.classList.contains("gps-show")){var e="1"===new URLSearchParams(window.location.search).get("gps_debug")?function(e,t){console.log("[gps]",e,void 0!==t?t:"")}:function(){},t=document.getElementById("gpsModule"),s=document.getElementById("gpsLink");document.body.classList.contains("gps-lang-es")&&t.setAttribute("aria-label","Añade a The New York Times a tus fuentes preferidas en Google.");var…
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