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Carney launches $18 billion Canada sovereign wealth fund

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Canadian Prime Minister Mark Carney in Ottawa earlier this month

Canadian Prime Minister Mark Carney in Ottawa earlier this month

Prime Minister Mark Carney on Monday announced the creation of Canada's first-ever sovereign wealth fund, beginning with a CAN$25 billion ($18.3) endowment he said will strengthen the economy amid a "crumbling" world order. 

The fund will include both public and private investment and will aim to support major projects Carney says are crucial to reducing Canada's economic reliance on the United States over the coming decades. 

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Originally published on doc.afp.com, part of the BLOX Digital Content Exchange.

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